Signals: MU 7-12-2024

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, July 11, 2024

MU 7-12-2024

Yi: + 97.75
Attempting to bottom out: BGS, SPXU, XRX
Trying to bounce: CAR, CBRL, HBI, HSY, KHC, QID, QRTEA
Trying to hold some rising trend line support: ANF. UUP
Attempting to hold the 28: $GASO, WGMI
Attempting to hold the 65: MSFT
Up against the 65: SEE
Up against the 28: BITW, FL, GT, TAP
Up against falling trend line resistance: BIDU, BMY, MMM, NOBL
Up against rising trend line resistance: FLR
Moderately overbought: GOLD, MKC, OMC, SIL, STX
Overbought: AEM, GDX, GLW, JNUG, SCHB, SCHX, $XAU
Toppy: C, NTAP, TSM
ABEWISUF: BA, DJT
Anything posted may be off base.

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