Signals: MU 3/18/2021

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, March 17, 2021

MU 3/18/2021

Yi: +53.45
Trying to hold some rising trend line support: ADM, PPC
Attempting to hold the 28 DMA: AMP, CSX, FCX, NOV, NSC
Attempting to hold the 65 DMA: ADM, AHH, GT, NYCB, RYE, SYY, XRX
Up against falling trend line resistance: HD
Up against some rising trend line resistance: TAP
Up against the 65 DMA: $GOLD
Up against the 28 DMA: JNJ, $NDX
Moderately overbought: CPB, MSI, PEG, PFE
Toppy: TSN
A break out either way is setting up for: BAL, BITW, $COTTON, GPC
Anything posted on these pages may be off base.

No comments:

Subscribe to: Post Comments (Atom)