Signals: MU 12/17/2020

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, December 16, 2020

MU 12/17/2020

Yi: +46.8
Trying to bottom out: NKLA
Moderately oversold: NTES
Attempting to hold the 28 DMA: CAR, HA, UBER
Attempting to hold the 65 DMA: PPC
Up against the 28 DMA: BMY
Up against the 65 DMA: FLO
Up against falling trend line resistance: AHH, MCD, NVDA, OLLI
Up against rising trend line resistance: IDA, VOT
Moderately overbought: JO, LOW, MRVL, SOYB, YUM
Overbought: LPL, WY, Z
Toppy: BAL, BIDU, KLIC, MTSI, TKR
Going parabolic: BIDU, WOOD
A break out either way is setting up for: ADM, ATI, GOOG, REMX, SHAK, TD, VFC
Anything posted may be off base.

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