Signals: MU 12-3-2019

For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.

Tuesday, December 3, 2019

MU 12-3-2019

Yi: +27.13
Attempting to bottom out: SPXU
Average oversold: EGPT and UNG
Moderately oversold: BNS
Trying to hold rising trend line support: KSS
Attempting to hold the 28 DMA: B, MTSI, NIB, PAG, TILE, WBA
Up against the 65 DMA: DNKN, FXP, MED
Up against the 28 DMA: BYND, DLPH, $UST30Y
Up against falling trend line resistance: BGS and CLX
Up against rising trend line resistance: IP
Moderately overbought: DRI and PEP
Average overbought: JO
Getting toppy: AAPL and AMP
A break out either way is setting up for: AA, M, $PLAT, PPLT, RGLD, SU, T
Anything posted may be off base.

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