Signals: MU 1/19/2022

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, January 18, 2022

MU 1/19/2022

Yi: +72.56
Attempting to bottom out: HRB, WEAT, YUMC
Oversold: GS, HD, WHR
Moderately oversold: APD, BBY, CSCO, FAST, $INDU, MS, PPG, QSR
Trying to hold some rising trend line support: HNI, IR, M, MMM, PFE, SOYB
Trying to hold some falling trend line support: IVW
Attempting to hold the 28 DMA: D, GPC, KMB
Attempting to hold the 65 DMA: FLR, JACK, SDY
Up against the 28 DMA: CANE
Up against some rising trend line resistance: OMC, TAP
Moderately overbought: NIB
Overbought: FLO, GT, MAN
Toppy: $LUMBER, KHC, PM, USB
A break out either way is setting up for: BMY, HRL, JO, MED, MRK
Anything posted on these pages may be off base.

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