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, August 12, 2020
MU August 13, 2020.
Yi: +37.1...
Attempting to bottom out: GILD...
Oversold: ETCG...
Moderately oversold: AU, AKAM, CSX, GS, MRVL, NEM, NFLX, RBGLY...
Trying to hold rising trend line support: BGS, STMP...
Attempting to hold the 65 DMA: A, $BTCUSD, $GOLD, IQV, MDC, PFE, $PLAT, PPLT, PYPL, QRTEA, XLNX...
Attempting to hold the 28 DMA: D, JNJ, KR, MTSI, SIL, WEC...
Up against falling trend line resistance: CNK, FL, IBM, PAYX, SHAK, TRV...
Up against rising trend line resistance: WOOD...
Moderately overbought: AXP, B, BMY, BNS, BWA, CAT, CAR, CBRL, CVY, DRI, FLR, GEF, GM, IYG, LBAI, LMT, MAN, MMM, MOB, NCR, NOBL, NOV, PM, PNC, PPG, ROK, RS, SDY, SNA, SWK, SYY, TD, TPR, UYG...
Overbought: DLPH, ETN, HBI, IR, MGA, NSC, NTR, TKR...
Toppy: ADM, BBL, DE, NSC...
Break out either way setting up for: LYFT, MED...
Anything posted here may be off base.
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