Signals: MU August 3, 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.

Friday, July 31, 2020

MU August 3, 2020.

Yi: +33.23
Trying to bottom out: RTX, $USD, UUP
Oversold: HA
Moderately oversold: AGX, KOL, MMM
Trying to hold the 65 DMA: APD, BBL, $GASO, TD, UGA, WGO
Trying to hold the 28 DMA: CAT, CSX, EWA, FCX, GIS, IBM, $INDU, JNJ, PRU, RSX
Trying to hold rising trend line support: AFL, GM
Up against the 65 DMA: BAL
Up against rising trend line resistance: YETI
Moderately overbought: PBI, RGR
Overbought: PYPL, MMC, QCOM, Z
Extremely overbought: PG
Toppy: MTH, WY
Break out either way: $HGX, LBAI
Anything posted may be off base.

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