Signals: MU 11/11/2021

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, November 10, 2021

MU 11/11/2021

Yi: +75.51
Moderately oversold: CAR, $UST30Y
Trying to hold rising trend line support: O
Attempting to hold the 28 DMA: AIG, TAP
Attempting to hold the 65 DMA: BWA, COIN, CSX, PPG, SPWR
Up against the 28 DMA: $CRB, XRX
Up against falling trend line resistance: AEM, CPB, GIS
Up against rising trend line resistance: GEF
Moderately overbought: FL, GOLD, MDC, MTH, NUS
Overbought: STX
Toppy: ALV, ETHE, ETN, $HGX, STX
A break out either way is setting up for: HBI
Anything posted on these pages may be off base.

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