Signals: MU 10/21/2021

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.

Wednesday, October 20, 2021

MU 10/21/2021

Yi: +72.18
Possible bottom here: CPB
Attempting to bottom out: MU
Oversold: CAKE, QID, SPXU
Moderately oversold: HA, $SUGAR
Trying to hold rising trend line support: OMC
Attempting to hold the 28 DMA: BGS, HRL
Attempting to hold the 65 DMA: BWA, $LUMBER
Up against the 65 DMA: MCHP, MKC
Up against the 28 DMA: AMAT, MED, PFE, RGLD, YETI
Up against falling trend line resistance: SIL, YETI
Up against rising trend line resistance: ADM, AVGO
Moderately overbought: AVAV, AVGO, IR, LIN, MAIN, QQQ, TSM, TXN, V, XLK
Overbought: BIDU, LMT, PAYX, VOT
Toppy: BBL, CAR, HD, MRVL, $NDX, QCLN
A break out either way is setting up for: NTR
Anything posted may be off base.

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