Signals: MU 5-24-2023

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 23, 2023

MU 5-24-2023

Yi: + 50.55
Trying to bottom out: BMY, CPB, GIS, GM, QID, SPXU
Moderately oversold: PG, WSO
Attempting to hold some rising trend line support: $INDU, IVW
Attempting to hold the 28: CBRL, UNG
Attempting to hold the 65: AAPL, CSX
Up against the 65: DM, SU, TUP, XOM
Up against the 28: VLY
Up against rising trend line resistance: $UST3M
Up against some falling trend line resistance: RIOT, SPWR
Moderately overbought: TSL, TSLA, UGA
Up against the 28: CAR, F
Toppy: MSFT, $NDX, QLD, QQQ, XLK
A breakout either way is setting up for: CNK, CVS, EBAY
Anything posted may be off base.

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