Signals: MU 12/4/2020

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 3, 2020

MU 12/4/2020

Yi: +45.15
Trying to bottom out: NKLA
Moderately oversold: LMT, MCD, WHR
Trying to hold rising trend line support: BWA, NDAQ, NTES
Attempting to hold the 28 DMA: CPB, $HGX, KMB, SFIX, SWK, YUMC
Attempting to hold the 65 DMA: GT, JNPR, SOYB, STMP
Up against the 28 DMA: BYND, SIL
Up against falling trend line resistance: CAR
Up against rising trend line resistance: AMP, TGS, UBER
Moderately overbought: BIDU, GOOG, ORCL, QCOM, WBA
Overbought: VOX
Extremely overbought: AMAT, KSS, MU, NTAP
Toppy: CLF, NVS, PFE
Going parabolic: STX
A break out either way is setting up for: CSX, GM, IBM, IDA, IYJ, REMX, XLY
Anything posted may be off base.

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