Signals: MU April 22, 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.

Wednesday, April 22, 2020

MU April 22, 2020.

Yi: +12.75
Attempting to bottom out: SOYB
Extremely oversold: $WTIC
At the average oversold level: KOLD
Trying to hold rising trend line support: DLPH
Attempting to hold the 65 DMA: $GOLD, KO, LEN, $PLAT, TUP
Attempting to hold the 28 DMA: ANF, EWA, $HGX, RSX, TRV, UYG
Up against the 28 DMA: $COTTON
Up against falling trend line resistance: NIB
At the average overbought level: OLLI
Getting toppy: BMY, JNJ, JNPR, KHC, KMB, MRVL, NFLX, NVS, PFE, TSLA
A break out either way is setting up for: DRI, HA, KR, MJ, RYE, SFIX, UBER, Z
Anything posted on these pages may be off base.

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