Signals: MU 1-18-2024

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.

Wednesday, January 17, 2024

MU 1-18-2024

Yi: + 72.81
Attempting to bottom out: CAKE, CAR, CBRL
Oversold: AU, BA, GOLD, JNUG, MARA, MED, PPLT, $PLAT, TSLA, VFC, WGMI
Moderately oversold: BAC, BEN, BGS, BMY, COPX, D, DD, HBI, $NYA50R
Trying to hold some rising trend line support: NTAP
Attempting to hold the 28: CSX, $HGX, PM, SCHB, SCHX
Attempting to hold the 65: GBTC, MET, YYY
Up against the 28: SPXU
Moderately overbought: $USD, $UST30Y
Toppy: IBM, MSFT, XLK
ABEWISUF: HSY, T
Anything posted may be way off base.

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