Signals: MU 9/18/2020

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.

Thursday, September 17, 2020

MU 9/18/2020

+36.35
Attempting to bottom out: BGS, CVS, IDA, KR
Extremely oversold: TGS
Oversold: KHC
Moderately oversold: CAR, CBRL, TD
Trying to hold rising trend line support: SLV
Attempting to hold falling trend line support: HRL
Attempting to hold the 28 DMA: PG
Up against the 28 DMA: BEN, $WTIC
Up against the 65 DMA: YUM
Up against falling trend line resistance: B, NOV, RYE
Up against rising trend line resistance: DFS
Moderately overbought: AGX, BYND, HA, MTH, SWK
Overbought: DAL, SYY
Toppy: ANF, CPRI, DRI, MCD, TKR, TPR, UBER, VFC
Break out either way: BCO, HRB, JWN, PEG, $UST30Y, XRX
Anything posted may be off base.

No comments:

Subscribe to: Post Comments (Atom)