AKS made another 31-month weekly closing high on Friday, the 5th in a row since breaking above the 200-week MA, and got up close to the January 2012 weekly closing high at 9.91 with a rally up to 9.90. Nonetheless, the bulls were not able to keep the buying coming in and the stock closed near the lows of the week, suggesting a drop below last week's low at 9.52 will be seen this week. The only support close-by, and even then only minor support, is at 9.52 and then nothing until minor support is found again at 8.86. Intra-day support is found at 9.00 in the form of the 200 60-minute MA. The probabilities are still decent that the 200-week MA, currently at 7.85, will be tested at some point and a break below 8.86 will likely cause that to happen. To the upside, resistance is still found at the 31-month high at 10.33.

CVX continued to show weakness, having gone above last week's high but then closing in the red and on the lows of the week, suggesting further downside below last week's low at 125.68 will be seen this week. On an additional negative note, the stock closed below the previous all-time high weekly close at 127.56 made in July 2013 and gave a failure to follow through signal that if confirmed with another close below that level next Friday would suggest that further downside of consequence will be seen. The negative inverted flag formation is still in place and a break below the bottom of the flag at 124.58 gives a flag objective of 116.00. The 200-day MA is currently at 122.25 and should offer some support but if 124.58 is broken it will become a resistance level. To the upside, resistance is found at the recent high at 128.67 and again at the 50-day MA, currently at 129.50. The stock will find itself at a daily close pivot level starting on Monday as some support is found on the daily chart between 125.82 and 126.42. Having closed on Friday at 126.10, it is likely that a close above or below that area will stimulate some additional trading interest. Probabilities favor the bears but it is a pivotal week.

DD did not accomplish anything last week as the stock did generate a green weekly close but did not break any resistance levels above and closed in the middle of the week's trading range, suggesting the traders are waiting for direction from the indexes. The stock has been straddling the 200-day MA, currently at 64.95, for the past 12 days, having closed slightly above it and slightly below it repeatedly over this period of time. Resistance to the upside is clearly defined between 65.98 and 66.19 and then a bit stronger at the recent high at 66.95. If 66.19 is broken the bias will shift to the upside and if 66.95 is broken the stock is likely to move up to at least the 68.72/68.82 level. Support is found at 64.35 and at 63.70 with the bias shifting back to the bears if 64.35 is broken and strong selling likely to be seen if 63.70 is broken. Downside objective remains the $60 level. The chart continues to favor the bears but if the indexes rally it could be the catalyst that will generate a rally to test the recent high at 69.70.

DLTR had an uneventful inside week that keeps the short-term bias slightly to the upside but also keeps the chart susceptible to selling. The stock seems to be presently in a $54-$56 trading range that is totally meaningless. A rally above 57.22 would give a strong edge to the bulls while a drop below 52.92 would do the same for the bears. Probabilities favor more of the same as seen this past week.

FCEL generated a new 5-month weekly closing high on Friday, suggesting the stock is ready to start moving higher. By the same token, the bulls still need to generate an intra-week break above 2.65 to bring about new buying interest. The stock did close near the highs of the week and further upside above last week's high at 2.58 is likely to be seen this week, meaning the probabilities do favor the break of resistance occurring. Pivotal support is now found at 2.24. The close on Friday does give the edge to the bulls but the action seen does not yet suggest the break of the 2.65 level is imminent, meaning that a trading range this week between 2.29 and 2.64 is most probable.

GIGM made a new 31-month intra-week low at .87 cents this past week that does put a negative tone on the short-term outlook for the company. By the same token, the break of the 1.00 was expected as multiple lows had been built at that price over the 4 months that had become a magnet for the traders to break. The bulls were able to rally the stock to close in the middle of the week's trading range and "not generate" a new 31-month weekly closing low, meaning that the break was not as negative as it could have been, but the bulls must do something positive this week or the traders will lose interest in trading the stock to the upside. The bulls need a rally and close above 1.00 to turn this break into a possible positive. A break below the week's low at .87 cents would be a negative that would likely take the stock down to at least the .80 cents and probably keep the stock trading between .80 and 1.00 for the next couple of months if not the rest of the year.

HAL bulls attempted to rally the stock this past week with the help of the index rally but they failed as the stock ended up having an inside week and a weekly close that was more indicative of weakness than of strength. Four weeks ago the stock gave a small sell signal when it closed below the previous low weekly close at 68.98 and for the past 3 weeks the bulls have been unable to negate the break having seen weekly closes at 68.72, 68.31 and 68.42. The stock did close slightly in the lower half of the week's trading range, suggesting the probabilities favor the downside and a break below last week's low at 67.17. Nonetheless, the stock did close on the highs of the day on Friday and the first course of action for the week is likely to be to the upside, meaning the bulls will have first crack at deciding what the stock will do for the week. Resistance is clearly defined as the $70 demilitarized zone with 3 intra-week highs over the past 12 days at 69.86, at 69.94, and at 70.33. Support is found at 67.17, at 67.03 and pivotal at 66.77. It is likely the stock will move based on what happens with the indexes. A break above 70.33 will likely bring about a rally up to 71.46 and a break of that resistance would suggest the all-time high at 74.33 would be tested. A break below 66.77 would suggest a drop down to the $60-$61 level. The chart is leaning to the bear side because of an inverted flag formation that offers a downside objective of 62.77. Nonetheless, a rally above 70.33 would turn things around, meaning that the stop loss on the short trade should now be lowered to 70.43.

LVS generated a green weekly close on Friday but the green was so small as to not make any impression on the chart, especially considering that the previous weeks close was 68.13 and Friday's close was 68.42 and both closes are still below the low weekly close for the past 11 months at 69.80. The bulls did manage to close the stock near the high of the week and further upside above last week's high at 69.09 is likely to be seen. Nonetheless, resistance of some consequence should be found at the $70 demilitarized zone that should prevent any further upside from happening. Nine days ago, the stock gapped down from 71.36 to 70.68 and the probabilities do favor a retest of that gap before further selling interest appears. A rally on Monday above last week's high at 69.09 will likely insure that action. The chart though, continues to be heavily favoring the bears and a $60 objective and after a small rally this week the probabilities do favor the downside continuing.

MELI followed through to the previous week's positive earnings report and close on the highs of the week to get up close to the 21-month high at 112.87 with a rally this past week to 112.40. Nonetheless, the bulls were unable to break through that resistance and the stock fell back a bit at the end of the week on a negative note, having closed on Friday near the lows of the day and suggesting the first course of action for the week will be to the downside. By the same token, the stock once again closed in the upper half of the week's trading range, also suggesting that a rally above last week's high at 112.40 will be seen this week. Minor support will be found at 108.24 and a bit stronger at 106.60. Probabilities still suggest that the 112.87 high will not be broken and that the breakout of the 200-day MA, currently at 97.00, will be tested at some point. Nonetheless, the action this week does suggest that profits be taken on a dip down to the 106.60 level and a new sell be considered on a rally above 112.40 but below 112.87.

OXY generated a second green weekly close on Friday and more importantly above the $100 demilitarized zone, suggesting that the buying interest remains. By the same token, the stock had an inside week which also suggests that the buying interest is still limited. The stock did close in the upper half of the week's trading range and the probabilities do favor the stock going above last week's high at 101.05 this coming week. By the same token, the stock is showing decent and possibly short-term pivotal resistance between 101.05 and 101.23 that if broken could bring about a rally up to as high as 104.00. Minor support is found at 99.05, a bit stronger at 97.77 and pivotal 96.82 that does include the 200-day MA, currently at 96.35. My suggestion is to take profits if the stock breaks above 101.23 (stop loss like at 101.35) and look to re-short between 103.50 and 104.00. The chart direction for this week is almost a toss of a coin (50-50).

SINA had a better than expected earnings report and did generate a green weekly close but the action seen was disappointing inasmuch as the stock gave back most of the rally off of the earnings report to close very slightly in the lower half of the week's trading range and still below the previous 2 high weekly closes at 49.60 and at 50.70. The stock did close near the lows of the day on Friday, meaning that the first course of action for the week is likely to be to the downside below Friday's low at 48.74, meaning that the gap created on Friday between 48.43 and 48.74 will likely be closed and also suggesting the better than expected earnings report was not good enough to change the recent sideways trading action. A break below Thursday's low at 47.34 would be strongly disappointing to the bulls and it might generate new selling interest in spite of the good earnings report. As such, a stop loss at 47.24 can be considered though in reality the stock still needs to break below the 46.26 level to stimulate new shorting interest. Friday's action was perplexing and does suggest that the stock/company needs index help (from the Chinese market) to head higher in the short-term.

WDC generated a red weekly close but it was not indicative of what is to come since the stock still closed above the psychological support at the $100 level. The stock closed in the upper half of the week's trading range, suggesting that the probabilities favor a rally above last week's high at 102.12 more so than a drop below last week's low at 98.43. The daily chart does suggest that the 102.11/102.12 level is resistance and that if broken the stock would continue higher and possibly make a new all-time high above 102.89. Nonetheless, the stock is still showing a double top at 102.89/102.76 that will need to be broken to generate new buying interest. To the downside, support is found at 98.43, at 97.97 and at 97.59, as well as the general support at 97.00. As such, the stock is presently trading within the "general" support at $97 and the "general" resistance at $103 and a break of either of those levels will likely be indicative. The probabilities favor the stock doing whatever the indexes do but then again that means the probabilities favor the upside.