Signals: MU August 19, 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 18, 2020

MU August 19, 2020.

Yi: +37.45
Moderately oversold: IDA, LYFT, NTAP, UBER, WEN
Trying to hold rising trend line support: IBM
Attempting to hold the 28 DMA: MAT, PPC
Attempting to hold the 65 DMA: $GASO, RGR, TSN
Up against the 28 DMA: MCO, WEAT
Up against falling trend line resistance: IRBT, NVS
Up against rising trend line resistance: GBTC, $NDX
Moderately overbought: CLF, CPB, GM, KHC, KR, MRK, SOYB
Overbought: HD, NVDA, TSLA
Toppy: BBL, BBY, DE, GLW, $INDU, TGT
Break out either way on the way: A, AFL, AMTD, BAL, $COTTON, QSR, SCHW, STX
Anything posted may be off base.

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