Signals: MU 8-8-2024

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, August 7, 2024

MU 8-8-2024

Yi: + 80.18
Trying to bounce: PPLT
Oversold: RGR
Attempting to hold the 28: USB
Attempting to hold the 65: MED
Up against the 65: MAIN, UNG
Up against the 28: CSX
Up against some falling trend line resistance: BEN, TSM
Overbought: CNK
Anything posted may be off base.

Wednesday, August 7, 2024

MU 8-8-2024

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