Signals: MU 5-19-2023

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.

Thursday, May 18, 2023

MU 5-19-2023

Yi: + 52.24
Attempting to bottom out: IYE, QCOM, XOM
Oversold: WEC
Moderately oversold: GFI, PEG, RGLD
Attempting to hold the 28: BIDU, GIS
Attempting to hold the 65: MKC
Up against the 65: AXP, CAT, DBO, ETCG, $INDU, TROW, VLY, WHR, $WTIC
Up against 28: BAC, C, FLR, UGA, XMMO
Up against falling trend line resistance: MARA, WGMI
Moderately overbought: NYCB
Overbought: CBRL
A break out either way is setting up for: BITO, RGR, VGK, WBD, WY
Anything posted may be off base.

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