Signals: MU 6-21-2024

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.

Thursday, June 20, 2024

MU 6-21-2024

Yi: + 94.24
Attempting to bottom out: BMY, CAT, D, MED, QID, SPXU
Trying to bounce: VYX
Extremely oversold: WBD
Moderately oversold: BA, BITO, GBTC, USB
Trying to hold some rising trend line support: WHR
Attempting to hold the 28: CMG, UNG
Attempting to hold the 65: ANF
Up against the 65: AEM, GDX, GIS, GPC
Up against the 28: CAR, CSCO, NOBL, X
Up against some falling trend line resistance: AU, CSX, $GOLD, MARA, SDY
Moderately overbought: CNK, IBM, MAIN, PG
Overbought: BBY, GLW, ORCL
Toppy: $NDX, QLD, SCHB, SCHX, $SPX, TSM, XLK
ABEWISUF: BITW, GOOG, $UST30Y
Anything posted may be off base.

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