Signals: MU 11/17/2021

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, November 16, 2021

MU 11/17/2021

Yi: +77.17
Trying to bottom out: TUP
Moderately oversold: NTAP
Attempting to hold the 28 DMA: EMR, ETHE, HA, RY, SPWR
Attempting to hold the 65 DMA: CAT
Up against the 28 DMA: LMT, $UST30Y
Up against the 65 DMA: MS, NIB, ORCL, PRU, RGR
Up against some rising trend line resistance: ETN, TSN
Moderately overbought: AFL, CLX, GPC, IYJ, JO, MGA, O
Overbought: ALV
Toppy: CVY, DBA, GOLD, NOBL, NUS, SIL, TD, TKR, WEAT
A break out either way is setting up for: NYCB, USB
Anything posted on these pages may be off base.

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