Signals: MU 2-24-2020

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.

Sunday, February 23, 2020

MU 2-24-2020

Yi: +32.13
Possible bottom here for: BGG
Attempting to bottom out in this area: FLR, HA, NUS
At the average oversold level: RS
Moderately oversold: AFL, CG, CSCO, HRL, JNJ, LMT
Trying to hold rising trend line support: BMY and MCD
Attempting to hold the 65 DMA: MMC and PEP
Attempting to hold the 28 DMA: BYND, IYJ, NVS
Up against the 65 DMA: NTR
Up against falling trend line resistance: DBI, GIS, T
Moderately overbought: AU, CAKE, CIEN, JWN, MANT, RRGB
At the average overbought level: RGR
Getting toppy: CAR, $GASO, SHAK, UIS
Possible top here for: YYY
A break out either way is setting up for: IRBT, STX, RSX
Anything posted on these pages may be off base.

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