Signals: MU 8/17/2021

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, August 17, 2021

MU 8/17/2021

Yi: +71.28
Attempting to bottom out: CNK, SPXU, VXX
Oversold: MANT
Trying to hold some rising trend line support: AVAV, BBL, BWA, CIEN, OIL
Trying to hold some falling trend line support: MJ
Attempting to hold the 28 DMA: AVAV, BBY, CMI, LBAI, PING, QQQ, $USD
Attempting to hold the 65 DMA: BGS, DBI, HD
Up against the 65 DMA: CPB, $GOLD, KHC
Up against the 28 DMA: KDP
Up against some falling trend line resistance: GIS
Up against some rising trend line resistance: LIN, NDAQ
Moderately overbought: FLO, GIS, ITW, KMB, MKC
Overbought: BAL, CANE, $COTTON, O
Toppy: CSCO, EFV, IR
Anything posted may be off base.

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