Signals: MU 8-25-2022

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.

Wednesday, August 24, 2022

MU 8-25-2022

Yi: + 55.65
Attempting to bottom out: CG, MDC
Oversold: JWN
Moderately oversold: GLW, KODK, LIN, $LUMBER, RY, STX, TWTR
Trying to hold some rising trend line support: AEO
Attempting to hold the 28: BBBY, CANE, G, GEF, $INDU, IR, ITW, QRTEA, $SPX, XRX
Attempting to hold the 65: CIEN, CL, CSX, DBI, HD, MMC, MRK, PEG, VLY
Up against the 65: BABA, ETHE
Up against the 28: TAP, QID
Up against some falling trend line support: BIDU
Moderately overbought: CORN, SOYB, XOM
ABEWISUF: AMAT, WHR
Anything posted on these pages may be off base.

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