Signals: MU 11/12/2020

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.

Wednesday, November 11, 2020

MU 11/12/2020

Yi: +42.2
Attempting to bottom out: BABA, BYND, IRBT, STMP
Average oversold: AEM
Moderately oversold: AKAM, GOLD, RGLD
Trying to hold some falling trend line support: OLLI
Attempting to hold the 28 DMA: $NDX
Up against the 28 DMA: GILD, PM
Moderately overbought: AGX, $CRB, IYE, MAIN, T, $WTIC, XLE, $XOI
Overbought: CORN, CVY, $NYA50R, SDY
Extremely overbought: GM, KO
Toppy: AIG, ANF, AFL, BNS, CVS, MAN, MET, OMC, SDY, SOYB, WBA
A break out eithr way is setting up for: BAL
Anything posted here may be off base.

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