Signals: MU 11/11/2020

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, November 10, 2020

MU 11/11/2020

Yi: +41.25
Attempting to bottom out: UNG
Average oversold: FLO, IRBT, STMP
Moderately oversold: BABA, CPB, GIS, $GOLD, LOW, WHR, WSO
Attempting to hold the 28 DMA: Z
Trying to hold some rising trend line support: BBY, MAT
Up against the 28 DMA: IBM
Up against falling trend line resistance: BWA
Up against rising trend line resistance: CORN, DE, PAG, XRX
Moderately overbought: AEO, AHH, AVAV, CAR, $UST30Y, VLY, XOM
Average overbought: ANF, AXP, GS
Getting toppy: AFL, AMAT, APD, BIDU, GOOG, MAN, QCOM, UBER
Anything posted may be off base.

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