Signals: MU 1-23-2024

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.

Monday, January 22, 2024

MU 1-23-2024

Yi: + 76.35
Attempting to bottom out: CLF, M, MED, RIOT
Moderately oversold: CPB, PM
Attempting to hold the 28: TAP
Attempting to hold the 65: FL, PG
Up against the 65: CAR, CAT, NYCB
Up against the 28: NOBL, SDY
Up against some falling trend line resistance: NTAP, NYCB
Up against some rising trend line resistance: GE
Moderately overbought: AAPL, AFL, $UST30Y
Overbought: DELL, GOOG, IBM, IVW, MSFT, QCOM, QLD, QQQ, XLK
Toppy: CMG, META, MMC, $NDX, $SPX, QLD, QQQ, TSM, XLK
ABEWISUF: FLR, QRTEA
Anything posted may be off base.

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