Signals: MU 12/3/2020

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 2, 2020

MU 12/3/2020

Yi: +45.2
Attempting to bottom out: BBY
Extremely oversold: $USD
Oversold: NKLA
Moderately oversold: ANF, PEG, WEAT
Trying to hold rising trend line support: JO
Attempting to hold the 28 DMA: ROK
Attempting to hold the 65 DMA: CORN, MMM, QCLN, SPWR, TILE
Up against the 28 DMA: SLV
Up against falling trend line resistance: JNJ
Moderately overbought: AAPL, TSM, TXN, $UST30Y, XLK
Overbought: $NDX, $PLAT, TSN, WDC
Toppy: AVGO, ETN, MRVL, NOW, NTR, PYPL, VOT, XLNX
A break out either way is setting up for: FCX, IQV
Anything posted may be off base.

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