Below is an update of our custom portfolio trading range screen run on the Dow 30 members. A week ago, the majority of Dow stocks were trading in overbought territory (represented by the end of the tail for each stock below). After this week's pullback, the majority are now trading in neutral territory. Five stocks in the index are now in oversold territory, with Hewlett-Packard (HPQ) and Cisco (CSCO) being the most notable. Hewlett has gotten hit hard this week after its CEO resigned, while Cisco had an earnings report that investors clearly didn't like. Both are now in extreme territory, with HPQ literally off the charts. Bank of America (BAC), Intel (INTC), and Procter & Gamble (PG) are the other three Dow members that are currently oversold, but Procter is also one of only two Dow names that is up over the last week. McDonald's is the other stock that is up over the last week.
