Signals: MU 11/2/2021

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.

Monday, November 1, 2021

MU 11/2/2021

Yi: +74.43
Trying to bottom out: AGX, BIDU, CAKE, CC, GLW, MJ, OMC
Moderately oversold: AEM, GOLD, NIB, $UST30Y
Trying to hold falling trend line support: GILD
Attempting to hold the 28 DMA: AFL, MDC, NOV
Attempting to hold the 65 DMA: $GOLD, MKC, MMC, O, PRU, TSN
Up against rising trend line resistance: NDAQ, VOT
Moderately overbought: BEN, IQV
Overbought: FAST, MRK, $NDX
Toppy: CSX, HD
A break out either way is on the way for: AVGO, BITW, CUT, MMM, SNA, USB
Anything posted may be off base.

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