Signals: MU 12/18/2020

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, December 17, 2020

MU 12/18/2020

Yi: +47.56
Moderately oversold: GM, GILD, SNA
Attempting to hold the 28 DMA: AMP, PFE, TAP, TSN, WBA
Attempting to hold the 65 DMA: SU
Up against the 28 DMA: BABA
Up against the 65 DMA: UNG
Up against falling trend line resistance: SIL
Up against rising trend line resistance: NTAP, QLD, QQQ, SCHX
Moderately overbought: HAS, IDA, IRBT, $NDX, QSR, SCHW
Overbought: CG, MAT, LYFT, PYPL
Extremely overbought: STX
Toppy: AVGO, MAT, MU, STX, YETI
A break out either way is setting up for: AEO, AFL, APD, DAL, NOV
Anything posted may be off base.

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