Signals: MU 1/12/2021

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.

Monday, January 11, 2021

MU 1/12/2021

Yi: +49.8
Attempting to bottom out: UPS
Oversold: LMT
Moderately oversold: IAU, MMM, SLV
Attempting to hold the 28 DMA: AU, GOLD
Attempting to hold the 65 DMA: $BTCUSD
Up against rising trend line resistance: FAST, JACK, NDAQ, $WTIC
Moderately overbought: CSX, QSR, SHAK, SYY, YUMC
Overbought: UGA, TGT, $UST30Y
Extremely overbought: $GASO, QCLN, TSLA
Toppy: BBL, GILD, $INDU, IYJ, JNJ, LPL, RSX, SCHX, TSLA, VGK, WOOD
Possible top here for: DFS
A break out either way is setting up for: MAIN
Anything posted may be off base.

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