Signals: Morning Update for August 3, 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.

Monday, August 2, 2021

Morning Update for August 3, 2021.

Yi: +68.41
Oversold: CAKE
Moderately oversold: CL, KDP
Trying to hold some rising trend line support: BGS, WEC
Attempting to hold the 28 DMA: BBY, BCHG, CLX, CVS, IYJ, NIB, USOI, VOX, XLY
Attempting to hold the 65 DMA: JO, MCO
Up against the 65 DMA: TTM, WDC
Up against the 28 DMA: KLIC, MGA, TUP
Up against some falling trend line resistance: BITQ, GS, IR, NVS
Up against some rising trend line resistance: CSCO, PAYX, VOT
Moderately overbought: AMAT, AVGO, CIEN, CPRI, MCHP, MTSI, QSR, TPR
Toppy: AMP, EMR, ETN, $GASO, MTH, YUM
A break out either way is setting up for: BIDU
Anything posted here may be off base.

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