Signals: MU 5-17-2023

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, May 16, 2023

MU 5-17-2023

Yi: + 49.26
Attempting to bottom out: CAKE, TUP
Oversold: WHR
Moderately oversold: CPB, LOW
Trying to hold some rising trend line support: AVAV
Attempting to hold the 28: AIG, AVAV, FAST, WSO
Attempting to hold the 65: LEN
Up against the 65: AA, MED, UGA
Up against falling trend line resistance: CSCO, NTES
Moderately overbought: NCR, NYCB, STX, UNG
Toppy: GT, MKC, QLD, QQQ
A breakout either way is setting up for: BA, CNK, $DJW, GFI, UYG, Z
Anything posted may be off base.

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