Signals: MU 2-22-2024

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, February 21, 2024

MU 2-22-2024

Yi: + 79.5
Attempting to bottom out: CSCO, UNG
Extremely oversold: MED
Moderately oversold: ORCL
Trying to hold some rising trend line support: F
Trying to hold falling trend line support: WOLF
Attempting to hold the 28: ETCG, IBM
Attempting to hold the 65: CAT, M, QCOM, SCHB, SCHX, $SPX, TSM
Up against the 65: PM, SPXU
Up against the 28: AEM, $GOLD, QID
Up against some falling trend line resistance: AEM, QID
Moderately overbought: GIS, VGK
Overbought: BITW, ETHE
Extremely overbought:
ABEWISUF: B, PFE
Anything posted may be off base.

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