Signals: MU 11/1/2021

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, October 30, 2021

MU 11/1/2021

Yi: +74.37
Attempting to bottom out: IP, TAP, V
Oversold: BA, IP
Moderately oversold: AFL, NEM, YUMC
Trying to hold rising trend line support: PCRFY
Attempting to hold the 28 DMA: AVAV, BBL, JO, YUM
Attempting to hold the 65 DMA: AU, BABA, $CRB, RY, $XOI
Up against the 28 DMA: BMY, HBI
Up against falling trend line resistance: KLIC
Up against rising trend line resistance: MTSI
Moderately overbought: CAT, CIEN, $COTTON
Overbought: SU, TROW
A break out either way is setting up for: DWAC
Anything posted on these pages may be off base.

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