Signals: MU September 1, 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.

Monday, August 31, 2020

MU September 1, 2020.

Yi: +41.05
Attempting to bottom out: GILD
Moderately oversold: OLLI, STMP, UIS
Trying to hold rising trend line support: GIS, KR
Attempting to hold the 28 DMA: KR, TPR, WDC
Up against the 65 DMA: QSR
Up against falling trend line resistance: NEM, SYY, UBER
Up against rising trend line resistance: JNJ
Moderately overbought: A, AEO, BCO, CAKE, CNK, DRI, FCX, KO, MRVL, PAYX
Overbought: CBRL, CSIQ, NIB, SHAK, SOYB, YUMC
Toppy: AKAM, APD, BGS, DNKN, $INDU, ITW, IYG, IYJ, LIN, NOW, PAG, WOOD
Break out either way setting up: AMP, BAL, BMY, C, CC, CVY, GM, XLNX
Anything posted may be off base.

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