Signals: MU 10-16-2024

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, October 15, 2024

MU 10-16-2024

Yi: + 99.2
Attempting to bottom out: SPXU, WBD
Moderately oversold: SETH, UNG
Trying to hold some falling trend line support: BITI
Attempting to hold the 28: DD, $GASO
Attempting to hold the 65: BMY, C
Up against the 65: MARA, MKC, SEE
Up against the 28: AU, CPB, FL
Up against some rising trend line resistance: HBI, USB
Up against some falling trend line resistance: FL, GOOG, GPC, PG
Moderately overbought: $BTCUSD
Toppy: DELL, GE, IVW, KMI, MAIN, $NDX, QQQ, SCHB, SCHX, SDY
ABEWISUF: TAP, VYX, WHR
Anything posted may be off base.

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