Signals: MU 12/7/2020

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.

Friday, December 4, 2020

MU 12/7/2020

Yi: +46.23
Trying to bottom out: RGR
Oversold: WSO
Moderately oversold: APD, CMI, ITW, KR, NTES, UL
Trying to hold rising trend line support: NDAQ
Attempting to hold the 28 DMA: BMY, $COTTON, DE, HRB, IP, IQV, KMB, LIN
Attempting to hold the 65 DMA: CNK
Up against the 65 DMA: AEM, $GOLD
Up against rising trend line resistance: T
Moderately overbought: CAKE, $GASO, UGA, WYND
Overbought: BA, CPRI, PPLT
Toppy: GBTC, TTM, YYY
Going parabolic: MU, NCR, $PLAT
A break out either way is setting up for: MED, MSFT, MSI, PEG, QRTEA, RY
Anything posted may be off base.

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