Signals: MU 12/24/2020

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 23, 2020

MU 12/24/2020

Yi: +46.42
Possible bottom here: HRB
Attempting to bottom out: APD, CAR, DBI, HA, INTC, PFE, VNO
Oversold: GILD
Moderately oversold: AIG, CVS, D, GOLD, T, WBA
Attempting to hold the 28 DMA: AEM, AU, PEP, XLNX
Attempting to hold the 65 DMA: $COPPER, $WTIC, YUM
Up against the 65 DMA: BBY
Up against the 28 DMA: ETN
Up against falling trend line resistance: GPC
Moderately overbought: BWA, JACK, MSFT, RGR, UBER
Overbought: BGS, CSIQ, MTSI, PYPL, SPWR
Extremely overbought: NTAP
Toppy: AVGO, CSIQ, IRBT, SOYB, VOT
A possible top here for: SFIX
A break out either way is setting up for: BCO, CMI, $SPX, TKR
Anything posted may be off base.

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