Signals: MU 12/9/2020

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.

Tuesday, December 8, 2020

MU 12/9/2020

Yi: +46.78
Trying to bottom out: CMI
Oversold: OLLI
Attempting to hold the 65 DMA: CAKE, CSIQ, GM, JACK, MAIN, TGT
Attempting to hold the 28 DMA: CBRL, HAS
Attempting to hold falling trend line support: HD
Up against the 65 DMA: NEM
Up against falling trend line resistance: SLV
Up against rising trend line resistance: AEO, QCOM
Moderately overbought: CIEN, KLIC, UGP
Overbought: MTSI
Toppy: AVAV, BA, $COPPER, CPRI, LYFT, MGA
A break out either way is setting up for: JPM, NKLA, TPR, WHR, YUMC
Anything posted may be off base.

No comments:

Subscribe to: Post Comments (Atom)