Weekend Update July 16, 2016.

1. Now trying to bottom out in this area: QID
2. Up against rising trend line resistance: JNJ
3. Moderately overbought: JPM, MCD, MET, MOS, NFLX, ORCL
4. At the average overbought level: Q
5. Toppy at this point: MSFT, PG, PYPL, QLD, SHAK, WY
6. A possible top is now in place for: PEP, SCHB, VOT
7. And as is always the case, anything posted here may be off base.