AKS generated another positive week and having closed near the highs of the week suggests that further upside above last week's high at 7.28 will be seen this week. Nonetheless, the stock will probably reach levels of resistance that are likely to be decisive, inasmuch as both the 200-day and 200-week MA's are both currently at the 7.60 level, as well as an important daily close resistance at 7.58 and weekly close resistance at 7.60. A close above those levels would disaffirm the recent negative action and put the bulls in a position to generate new buying interest to possibly fulfill the $10 upgrade objective. Intra-week resistance is found at 7.75 and then nothing until 8.47. Above 8.47 there is open air until the $10 level is reached. It should be mentioned that the stock is now showing a breakaway and runaway gap formation (5.89-6.10 and 6.47-6.55) which is bullish but also means that the 6.55 level is now considered support. Closure of the runaway gap would likely mean closure of the breakaway gap. Probabilities favor a rally to the 7.60-7.75 level where a decision will need to be made by the traders.

ARNA confirmed the previous week's positive reversal with a second green weekly close in a row. The stock closed slightly in the upper half of the week's trading range and further upside above last week's high at 4.30 is likely to be seen. The stock will be facing a pivotal week, inasmuch as a green close next Friday would be a small buy signal, while a red close would keep the stock under some selling pressure. A close next Friday above 4.37 would give a failure-to-follow-signal to the downside and would likely generate enough buying interest to take the stock up to the 5.15 level where the 200-week MA is currently at. Support is found at the 3.82 level and there is still a decent possibility of that level being seen, especially if the stock closes in the red next Friday. Nonetheless, any daily close above 4.34 would likely bring in a rash of short-covering and a rally up to the $5 level before any thoughts of testing the lows would be seen. It is a pivotal week that slightly favors the bulls.

CVX generated a green weekly close on Friday, making the previous weekly close at 111.80 into a successful retest of the 200-week MA, currently at 112.20. The stock closed near the highs of the week and further upside above last week's high at 117.32 is likely to be seen. On a daily closing basis, there is no resistance until minor resistance is found at 118.00-118.10. Nonetheless, on an intra-week basis, there is no resistance until the $120 demilitarized zone is reached. Further but still minor resistance is found at 121.56. Support is found at 113.68 and then nothing 109.27. Probabilities favor further upside, especially at the beginning of the week, but if the stock gets up to the $118-$120 level but fails to close above 118.10, the probabilities will favor the stock getting back down to the $110 level. Probabilities slightly favor the bulls.

ENG made a new 8-month daily and weekly closing low on Friday and closed on the lows of the week, suggesting further downside below last week's low at 1.45 will be seen. The stock has been under strong selling pressure during the past 11 weeks, having dropped over 50% in value (from 3.27 to 1.45) and generating 9 or 11 red weekly closes. The bulls are facing an important pivotal week as the stock got down to the 100-week MA, currently at 1.50, and that line has been as pivotal during the past 3 years as the 200-week MA, currently at 2.05, has been. Simply stated, the bulls need to generate a green weekly close next Friday or face new selling pressure, especially if the stock breaks below the 1.32 level on an intra-week basis. The stock shows 6-months of congestion support seen between November and April with support at 1.42 and at 1.32 that should hold up unless there are some negative fundamental changes in the company. Resistance will now be found at 1.65, at 1.74 and at 1.88 that are not likely to be broken at this time unless something fundamentally positive occurs. The earnings report is due out in 2 weeks on November 6th. Probabilities favor the stock trading between 1.42 and 1.65 during this period of time.

FCEL generated and inside week and did close slightly in the lower half of the week's trading range, suggesting that the previous week's positive reversal was not as strong as it could have been and that further downside below last week's low at 1.72 will be seen this week. Support is found at 1.65 (1.68 on a weekly closing basis) that needs to hold up if the stock has found a bottom to this recent drop, but if it does hold up would mean the recent 1.55 low will have been tested successfully. Resistance is now decent and "pivotal" at 1.95 that if broken would suggest the selling pressure has abated and that some recovery is to be seen with the 200-week MA, currently at 2.20, as the objective. Probabilities currently favor the bears as the bulls have not yet shown the ability to make anything positive happen.

FSLR generated a green weekly close (the first in 6 weeks) and closed on the highs of the week, suggesting further upside above last week's high at 56.98 will be seen this week. The green close also made the previous weeks low at 50.13 into a retest of the $50 level that is not only important psychologically but also from previous action and that means that level now has additional support strength. Resistance to the upside is not found until 59.44/59.64 is reached, which is a previous intra-week high from March but also the previous low weekly close from May that when broken caused the stock to drop down to the $50 level. The level has additional resistance strength as it is where the 200-week MA is currently at. Rallies up to that level are highly likely to occur but what the traders decide to do at that point is a big question mark. Above the $60 demilitarized zone, resistance on a daily closing basis will be found at the 200-day MA, currently at 63.10, and then nothing until a previous intra-week high of some consequence at 65.99. Probabilities favor the bulls at this time for a rally up to the 59.70 level.

GIGM generated a green weekly close on Friday after the earnings report came out on Wednesday and closed near the highs of the week, suggesting further upside above last week's high at .88 will be seen this week. The earnings report was as expected but some positive guidance was mentioned and the reaction was generally positive but not to the point that the bulls were able to generate a clear signal that the .75 low is a bottom. Nonetheless, further upside is likely to be seen this week with resistance found at .92 and at .94 and the strong one at 1.00. If the bulls are able to at least get up to the .94 level, a possible negative inverted flag formation will be nullified, which in turn would give the bulls additional reasons to think the downside is over. A rally above 1.00 would now be a decent positive while a break below .75 cents a decent negative. Probabilities slightly favor the bulls this week for a rally up to the .94 level.

LEN generated a strong positive week and a close on the highs of the week that suggests further upside above last week's high at 44.05 will be seen this week. The bulls fell short by only 12 points of making a new 7-year weekly closing high, meaning that the traders are still waiting for the economic reports due out this week which do include the 20-city Case/Schiller report on Tuesday morning that is specific to the industry. Nonetheless, the probabilities have now clearly shifted to the bulls as the burden of proof is on the shoulders of the bears, needing negative news to stop the rally. Support is now pivotal at 42.50 that if broken would likely "burst the bubble" of positive feelings that are being seen now. Resistance is at the 7-year intra-week high at 44.40. Stop loss should be at 44.50 but the trade is likely a loser now and consideration should be given to covering the short positions on Monday even if the stop loss is not hit.

OXY generated a green weekly close on Friday, meaning that no additional sell signal was given, as would have been given had the stock closed below the previous low weekly close at 87.57. Nonetheless, the index did get down to 87.62 this past week and having closed slightly in the lower half of the week's trading range, the probabilities favor the stock going below last week's low at 87.62 rather than above last week's high at 91.70. Support is found at 85.90 and at 84.91 that would be seen as a successful retest of the 82.30 low should they be seen and hold up. By the same token, the 200-day MA is currently at 92.25 and until that line is broken convincingly, the bears will continue to have "the edge". The stock is presently showing a bullish breakaway/runaway gap formation with the breakaway gap between 87.15 and 87.24 and the runaway gap between 88.88 and Thursday's low at 89.21. Closure of the runaway gap would suggest the breakaway gap will be closed. By the same token, a rally above last week's high at 91.70 without closing either gap, would be a bullish sign that would suggest the $95 demilitarized zone will be seen. As such, a sensitive stop loss at 88.88 can be used this week and a re-purchase considered on a drop down to 85.90. Probabilities slightly favor the bears but the key word is "slightly".

SIGM generated a green weekly close on Friday but the bulls accomplished nothing as the stock needed to close above 4.17 to at least annul some of the negatives generated over the past 3 weeks. The stock did close near the highs of the week and further upside above last week's high at 4.03 is likely to be seen. Minor daily close resistance is found at 4.06 and much stronger daily and weekly close resistance is found at 4.17 that if not broken would likely generate a new round of selling and a drop down to 3.50. The chart continues to lean on the bearish side and this is one of the small cap stocks I am likely to liquidate this week. Only if the stock is able to get and close above 4.17 will I consider keeping it. Probabilities though, favor the bears, especially if the stock cannot get above Thursday's high at 4.03 early in the week.

WYY generated a negative reversal week after a secondary stock offering at 1.45 was announced. The stock did close in the lower half of the week's trading range, suggesting that a drop below last week's low at 1.50 is likely to be seen. Downside objective is evidently the 1.45 level at which the stock offering was given. On a weekly closing basis, the 1.45 -1.50 level is considered important support. A daily and more importantly a weekly close below 1.45 would be a decent negative. On a positive note though, the stock gapped down on Friday after the announcement but the gap was closed in a very short period of time, suggesting there is still decent buying interest. The 200-day MA, currently at 1.57, is likely the key to the future as the stock closed slightly below that line on Friday and that line has not been broken for the past 18 months. The bulls must close above the line at some point this week or the traders will turn bearish. Probabilities still slightly favor the bulls but that will need to be proven this week.