Signals: MU 12/20/2021

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, December 18, 2021

MU 12/20/2021

Yi: +74.77
Attempting to bottom out: CAT, SPWR
Moderately oversold: A, TPR
Trying to hold some rising trend line support: AMAT, COIN, DRI, IVW, TAP, VOT
Trying to hold some falling trend line support: NYCB
Attempting to hold the 28 DMA: JO, MU
Attempting to hold the 65 DMA: ALEX
Up against the 65 DMA: $COTTON, $CRB, GOLD, SLVO
Up against the 28 DMA: AEM, AU, $GASO, $GOLD, MRK
Up against some falling trend line resistance: AIG, $COTTON
Moderately overbought: BMY, BNS, FLO, GILD, NEM, NUS, PM
Overbought: PFE
Extremely overbought: MKC
Toppy: BMY, CVS, GIS, HRL, OMC, TSN
Anything posted on these pages may be off base.

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