Signals: MU 3/16/2021

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, March 15, 2021

MU 3/16/2021

Yi: +53.32
Trying to hold some rising trend line support: BABA
Attempting to hold the 28 DMA: BITW
Up against falling trend line resistance: CLF
Up against rising trend line resistance: B, DAL, GS, LYFT, MAN, PPC, TILE
Moderately overbought: FLR, GM, HRB, UBER, WEC
Overbought: BA, C
Toppy: ADM, AGX, ATI, BNS, CBRL, $GASO, OMC, RS, RY, SCHW, UGA, UYG, VLY, XRX
Possible top here: LBAI, XOM
A break out either way is setting up for: CORN, NOV, SFTBY, TTM, WDC
Anything posted on these pages may be off base.

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