Early Morning Update August 5, 2016.

1. A possible bottom is forming here for: MCD
2. Trying to bottom out: DB and GE
3. Moderately oversold: GPC, HSNI, MKC, NOK
4. Trying to hold rising trend line support: FCX and JCP
5. Attempting to hold the 65 DMA here: NTES
6. Attempting to hold the 28 DMA here: WOR
7. Up against the 28 DMA here: HPQ
8. A break out in either direction is on the way for: GG
9. Anything posted here may be off base, depending on market conditions.