Signals: MU August 26, 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.

Tuesday, August 25, 2020

MU August 26, 2020.

Yi: +39.1
Attempting to bottom out: MTSI, RGR
Moderately oversold: IQV, MMC, SIL
Trying to hold rising trend line support: $XAU
Attempting to hold the 65 DMA: PINS
Attempting to hold the 28 DMA: AEM, $COPPER, GOLD
Up against the 28 DMA: MRVL
Up against falling trend line resistance: BA, CAKE, DAL, PNC, VFC, VNO
Up against rising trend line resistance: AVGO, ETN, $INDU, WOOD, XLK
Moderately overbought: CAT, UGA, XRX, YETI, YUM
Overbought: LPL
Toppy: BBY, CL, NVDA
Break either way setting up: FCX, MAT, MCO, NFLX, PEG, $PLAT, RBGLY
Anything posted may be off base.

No comments:

Subscribe to: Post Comments (Atom)