Signals: MU 4/23/2021

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.

Thursday, April 22, 2021

MU 4/23/2021

Yi: + 61.86
Attempting to bottom out: $USD
Attempting to hold some rising trend line support: COPX, $GASO
Attempting to hold the 65 DMA: FCX
Up against the 65 DMA: BGS
Up against the 28 DMA: QCLN
Up against falling trend line resistance: QRTEA
Up against some rising trend line resistance: AEO, CAR, MMM, NSC
Moderately overbought: CLX, FAST, FLO, $GOLD, GPC, ITW, MKC, VFC
Overbought: CSX, IBM, IQV, MAN, O
Toppy: AEM, BMY, D, KDP, MMC, O, PM, PPG
Anything posted on these pages may be off base.

No comments:

Subscribe to: Post Comments (Atom)