Signals: MU 10/13/2021

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, October 12, 2021

MU 10/13/2021

Yi: +66.26
Moderately oversold: CAKE, CLX, DBI, TAP, WEC
Trying to hold falling trend line support: MKC
AttemptIng to hold the 65 DMA: ALEX, OMC
Attempting to hold the 28 DMA: CORN, ETHE, KHC
Up against the 28 DMA: BBL
Up against the 65 DMA: CL, MDC, REMX
Up against rising trend line resistance: WY
Moderately overbought: COPX, IP, SPWR, WY
Overbought: MOS, ORCL, UGA
Toppy: ADM, AIG, FLO, GBTC, NOV, NTR, PRU, RYE, SU, TD, USB, XLE, $XOI
A break out either way is setting up for: GT, MMC, NDAQ
Anything posted on these pages may be off base.

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