Signals: MU 6-19-2024

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, June 18, 2024

MU 6-19-2024

Yi: + 94.7
Extremely oversold: QID
Moderately oversold: VYX, $XAU
Trying to bounce: COPX, GDX, GFI, JNUG, PFE, RGLD, SIL, $XOI
Trying to hold some rising trend line support: ANF
Up against the 65: C, CSX, NOBL, OMC, SDY
Up against the 28: CPB
Up against falling trend line resistance: C, CSCO, DD
Up against rising trend line resistance: QCOM
Moderately overbought: B, DELL
Overbought: CMG, STX
Extremely overbought: $NDX, $SPX, QLD
Toppy: MSFT
Going parabolic: TSM, QLD
ABEWISUF: AU, $GOLD
Anything posted may be off base.

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