Signals: MU 1-23-2020

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.

Thursday, January 23, 2020

MU 1-23-2020

Yi: +30.98
Attempting to bottom out at this level: GILD
Extremely oversold: UNG
At the average oversold level: BA, HPE, PPC, X
Moderately oversold: FIZZ
Trying to hold rising trend line support: REMX
Attempting to hold the 65 DMA: AU, RS, WOR
Attempting to hold the 28 DMA: $COTTON, CRUS, NTAP, $SILVER, SU
Up against the 65 DMA: QRTEA
Up against the 28 DMA: BBBY
Moderately overbought: HD, HSY, O, SCHH
At the average overbought level: ALL, CSX, KMB, KOLD, TXN
Getting toppy: ALL
Possible top here for: NIB
A break out either way is setting up for: F and JPM
Anything posted on these pages may be off base.

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