Signals: MU 5/19/2021

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.

Tuesday, May 18, 2021

MU 5/19/2021

Yi: +60.67
Possible bottom here: OLLI
Attempting to bottom out: BAL
Oversold: $BTCUSD
Moderately oversold: CLX, $COTTON, $LUMBER
Up against the 28 DMA: AVAV, PBI
Up against the 65 DMA: CIEN, IWM, V, VFC
Up against some falling trend line resistance: AEO
Up against rising trend line resistance: BNS, FL, GOLD, $GOLD, IYE, RYE, SU
Moderately overbought: CPRI, GME, MRK, MS, NCR, SIL, TUP, WDC
Overbought:AEM, HRB, MED, NEM, RGLD, STX, TD
Toppy: LIN, PRU, USB
A break out either way is setting up for: CSCO, JNPR, KHC, WU
Anything posted on these pages may be off base.

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