Signals: MU 1/28/2021

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.

Wednesday, January 27, 2021

MU 1/28/2021

Yi: +48.3
Moderately oversold: AGX, AXP, FCX, GBTC, IQV, ITW, ROK, SU, TKR, UBER, YETI
Attempting to hold the 28 DMA: FLR, XOM
Attempting to hold the 65 DMA: KLIC, MANT, MOS
Trying to hold some rising trend line support: ATI
Trying to hold some falling trend line support: LMT
Up against some falling trend line resistance: NKLA
Up against rising trend line resistance: BEN, TAP
Moderately overbought: CAR, GIS, HRL, KHC, MAIN, MMM, MSFT, STX, WEC
Overbought: AKAM, CLX, CNK, CPB, KR, M, OLLI, SHAK, WBA
Extremely overbought: BGS, CAKE, IRBT
Toppy: JNJ, LEN, STMP
Anything posted on these pages may be off base.

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