Signals: Morning Update for June 2, 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, June 1, 2021

Morning Update for June 2, 2021

Yi: +63.05
Moderately oversold: $LUMBER
Trying to hold some rising trend line support: CBRL, CL
Attempting to hold the 65 DMA: IBM, RGLD
Attempting to hold the 28 DMA: CL
Up against the 28 DMA: CSX, IRBT
Up against the 65 DMA: BBL, ITW, WGO
Up against some falling trend line resistance: CMI, CPRI, IR, IWM
Up against rising trend line resistance: SCHW, TROW, UGA
Moderately overbought: AVGO, BEN, CAR, CG, DBA, FRDM, MTSI, MU, TXN, VOT, XLNX
Overbought: JO
Toppy: MCHP, MRVL
A breakout either way is setting up for: JNPR, LMT
Anything posted on these pages may be off base.

No comments:

Subscribe to: Post Comments (Atom)