Early Morning Update August 4, 2016.

1. A possible bottom forming here for: OIL
2. Moderately oversold: F, GE, LEN, M, PHI, PTEN, PYPL, SEE, SU, WFM
3. Trying to hold rising trend line support: GPC
4. Attempting to hold the 28 DMA here: GM and JCP
5. Moderately overbought: IAU and UGLD
6. At the average overbought level: NEM
7. Toppy here: GDX, JNUG, NUGT, SLV, SLW
8. A break out in either direction is on the way for: EROS and IP
9. Anything posted here may be off base.