Signals: MU 1/20/2021

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.

Tuesday, January 19, 2021

MU 1/20/2021

Yi: +49.7
Possible bottom here for: KHC
Trying to bottom out: AEM, $GOLD, MCO
Oversold: MCO
Moderately oversold: AU, NCR, SIL
Trying to hold some falling trend line support: XLNX
Attempting to hold the 28 DMA: EWI, IP, IYJ, LIN, NTAP, XLK
Attempting to hold the 65 DMA: CSIQ, MAN, MGA, VGK, VOT, Z
Up against the 65 DMA: WEN
Moderately overbought: IRBT, JACK, JNPR, MAIN, VNO
Overbought: BMY, TTM
Toppy: ANF, CNK, CORN, FL, JWN, MJ, PBI, SOYB, TAP, UIS
A break out either way is setting up for: $BTCUSD, $COTTON, LBAI, NOW, WOR
Anything posted may be off base.

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