Signals: MU 8/30/2021

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.

Saturday, August 28, 2021

MU 8/30/2021

Yi: +71.54
Attempting to bottom out: CPB, KHC, NEM, TAP
Extremely oversold: OLLI
Oversold: HRL
Moderately oversold: GIS, IDA, MKC, TD
Trying to hold some rising trend line support: CSX, HD, YYY
Trying to hold some falling trend line support: GIS
Attempting to hold the 28 DMA: BITQ, COIN, CSX, ETCG, FLO, HBI, UNH, YYY
Attempting to hold the 65 DMA: CAR, TSN
Up against the 65 DMA: VNO
Up against the 28 DMA: QSR, SU
Up against falling trend line resistance: BEN
Up against rising trend line resistance: ALEX, IQV, TROW, UNG
Moderately overbought: PINS
A break out either way is setting up for: APD, NSC, PEG, WEC
Anything posted on these pages may be off base.

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