Signals: MU 10/20/2021

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 19, 2021

MU 10/20/2021

Yi: +71.63
Attempting to bottom out: KLIC, MJ, PFE
Moderately oversold: CPB, GEF, UNG
Trying to hold some rising trend line support: CBRL, GEF
Attempting to hold the 28 DMA: $GOLD, JNPR, $USD, UUP
Attempting to hold the 65 DMA: IBM, LBAI, VLY
Up against the 65 DMA: A, AEO
Up against the 28 DMA: DE, FL, MJ, TROW
Up against rising trend line resistance: MRVL
Moderately overbought: $NDX, QLD
Overbought: COIN, COPX, HD, M
Toppy: GS, NSC, UGA
A break out either way is setting up for: ETHE
Anything posted may be off base.

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