Signals: MU 1-17-2024

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 16, 2024

MU 1-17-2024

Yi: + 73.7
Attempting to bottom out: TSLA
Oversold: BIDU, BITW, CAR, RIOT, TSL, VYX, WOLF
Moderately oversold: BITO, BITQ, CAKE, F, FL, MARA, NYCB, WGMI, WHR
Trying to hold some rising trend line support: DD, FLR
Attempting to hold the 28: C, CPB, GLW, INTC, NOBL, SDY, TUP, $UST3M
Attempting to hold the 65: FLR
Up against the 28: ORCL
Up against some rising trend line resistance: LMT
Moderately overbought: IBM, MMC
Toppy: AMZN, $HGX, META, PG, $SPX, TAP, YYY
ABEWISUF: KHC
Anything posted may be off base.

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