Signals: MU 4/29/2021

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, April 28, 2021

MU 4/29/2021

Yi: +63.4
Attempting to bottom out: KMB
Moderately oversold: AU, BGS, GILD
Attempting to hold the 28 DMA: CL, GLW, TSN
Attempting to hold the 65 DMA: GOLD, $INDU, RGLD
Up against the 65 DMA: $UST30Y
Up against the 28 DMA: VNO
Up against some rising trend line resistance: ETN, $HGX, IP, TKR, VOX
Moderately overbought: AIG, $COPPER, DBI, HBI, NVS
Overbought: CANE, CAR, $CRB, JO
Toppy: CAR, SOYB, STX, VOT, XLK
Possible top here: MAIN
A break out either way is setting up for: BIDU, KHC, ORCL, SCHX, $SPX
Anything posted on these pages may be off base.

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