Signals: MU 10/5/2020

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.

Saturday, October 3, 2020

MU 10/5/2020

Yi: +36.38
Attempting to bottom out: IYE, M, NOV, SU, $XOI
Extremely oversold: XLE, XOM
Oversold: PCRFY, RYE, UGP
Moderately oversold: AA, BBL, MMM, NIB, PM, WDC
Trying to hold some rising trend line support: CALM
Attempting to hold the 65 DMA: CMG, $USD
Up against the 28 DMA: BWA, CG, CC, $DJW, FSLR, GDDY, HSY, MGA, ORCL, $SPX, UYG
Up against the 28 DMA: SCHX, VOX
Up against the 65 DMA: GLD, IAU
Up against falling trend line resistance: BRKS
Moderately overbought: BBY, MDC, NOW, SCHW, SPWR, TSM, UBER
Toppy: CRUS, CSIQ, DNKN, QCLN, TGT, VOT
A break out either way is setting up for: BGS, CLX, COPX, MKC, PBI, TUP
Anything posted may be off base.

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