ADSK short positions were put on as a hedge against the long positions due to the recent break in the indexes. As such, with the market negating the recent weakness, it is likely the trade will be a loser. Stop loss should be at 60.35 as a break above that level is likely to carry the stock up to the 62.00 level at least. In fact, if the stock does not open lower below 59.70 on Monday, consideration for covering the shorts at any price below the stop loss should be given. Intra-day support is found at 59.13, at 58.81 and at 58.45. Only if the stock gets below 58.45 should consideration be given to keeping the short positions.

AKS generated a key reversal week, having made a new 13-month low and then closing above the previous weeks' high. The stock closed on the highs of the week and further upside above last week's high at 6.37 is likely to be seen. In addition, the bulls were successful in closing the stock above the previous and strong daily/weekly close support at 6.12, meaning that a failure-to-follow-through signal to the downside will be given if confirmed. To the upside, very minor intra-week resistance is found at 6.49 and a bit stronger but still minor at 6.80/6.86. Further and stronger resistance is found between 7.32 and 7.75 with 7.58 being an important pivot point on a weekly closing basis. A weekly close above 7.58 would re-ignite the buying interest and likely carry the stock up to the $10 level. The stock gapped up on Thursday between 5.57 and 5.83 and with previous intra-week support found between 5.79 and 5.90, it means the gap should not be closed and a second gap (runaway) seen at some point in the near future. Probabilities favor the bulls but confirmation of the positive factors seen this past week need to occur. A rally above 6.86 would probably "seal the deal" for the bulls.

ARNA generated a positive reversal last week, having made a new 9-week low and then closing in the green and near the highs of the week, suggesting further upside above last week's high at 4.09 is likely to be seen. The green weekly close has made the previous weeks' close at 3.91 into a successful retest of the 30-month weekly closing low at 3.65, suggesting the bears are not in control in spite of the recent selling seen. On a slightly negative note though, the bulls did not accomplish anything to the upside as daily close above 4.27 needs to occur to generate new buying. In addition, the bulls need to once again negate the previous low weekly close at 4.37 for the bulls to have a good chart reason to buy aggressively. Intra-week support is now found at 3.82. Any daily close below 3.72 would now be considered a negative.

DLTR has been trading totally sideways for the past 4 weeks with the $67-$70 level being the trading range. The bulls were supported this past week by the strong rally in the indexes and yet the stock actually generated a reversal day on Friday, having gone above the previous day's high and then below the previous days' low, as well as having a red close. As such, the first course of action for the week is likely to be to the downside with 67.50 as a possible objective. Nonetheless, the stock did close in the upper half of the week's trading range, suggesting further upside above last week's high at 69.58 will be seen this week. The stock is not particularly sensitive to the index market, meaning that it is more likely to act on its own than to follow the indexes. Nonetheless, the probabilities still favor the bulls since the stock is showing a bullish flag formation that offers an $86 upside objective if the stock gets above 70.30 but a formation that will be negated if the stock gets below 66.70. Probabilities favor the bulls.

ENG generated a positive reversal on the weekly chart, having made a new 5-week low but then going above last week's high at 1.95 and closing in the green. The stock closed in the upper half of the week's trading range, suggesting the stock will go above last week's high at 2.03 this week. If that occurs, the non-closure of the gap between 1.59 and 1.72 (likely to be a breakaway gap) will be confirmed and should generate new buying interest and likely a runaway gap at some point in the near future. Minor resistance is found at 2.03 and stronger at 2.15, but if 2.15 is broken there is no resistance until the 200-day MA, currently at 2.40, is reached. It is important to note that if the bulls are able to generate follow through to the upside this week, on a weekly closing basis, that the 200-week MA, currently at 1.94, will be broken as well, giving additional chart ammunition to the bulls. Support is now important and pivotal at 1.72. Probabilities favor the bulls.

FB generated a positive reversal week, having gone below last week's low and then closing on the highs of the week and above last week's high. The stock closed on the highs of the week and further upside above last week's high at 80.00 is expected to be seen. With the all-time high just $1.28 above Friday's close, the probabilities favor a new all-time high being made this week. In addition, the gap between 79.57 and 76.88 that was generated after the October earnings report and that has been nibbled at during the past couple of weeks but not closed, was finally closed this past week, suggesting that all the negatives of the earnings report have now disappeared. The probabilities strongly favor a new all-time high being made this week, above 81.16 and if that occurs, the upside objective would be the $90 level. Pivotal support is now found at 74.47 but there is a bullish flag formation on the 60-minute chart that does offer an 81.40 immediate objective but that also will be negated if the stock drops below 78.90, suggesting that the 78.90-79.20 level will be used as support this week. Probabilities favor the bulls.

FCEL continued to be under sell pressure and did generate the second red weekly close in a row in spite of the rally in the overall market. Nonetheless, the stock finally got down to the 200-week MA, currently at 1.45 and did bounce enough to close in the middle of the week's trading range (1.45-1.75), meaning that whichever of those 2 levels get broken this week that it will likely be indicative. The stock shows resistance at 1.77/1.83 and support at 1.52/1.45. If 1.83 gets broken then is no resistance until 1.95 and above that level likely means open air until 2.20 is reached. A break below 1.45, especially if confirmed by a weekly close below that line, would be strongly negative and suggestive that the bulls have failed totally. Probabilities very slightly favor the bulls, but it is almost a coin toss.

FSLR generated a positive reversal week, having made a new 14-month low and then closing in the green and near the highs of the week, suggesting further upside above last week's high at 45.70 will be seen this week. Nonetheless, the bulls have not yet accomplished anything except perhaps some short-covering and they will need to do a lot more before any new buying comes in. Minor resistance is found between 47.56 and 47.73 and the probabilities do favor the bulls being able to get the stock up to that level this week. Nonetheless, a daily close above 47.73 is needed for further upside to be seen. Weekly close resistance is found at 45.54, meaning that if the stock closes in the red next Friday that the selling interest will resume. The stock did gap up this week between 42.41 and 43.36 and that is not a gap that is likely to stay unclosed, suggesting that the stock could see a trading range this week between $42 and $47 dollars, which in turn would mimic last week's trading range of $5. By the same token, if the stock opens higher and breaks above the 200 60-minute MA, currently at 47.01, and the bulls are able to get above the intra-week resistance at 47.56, the gap will lose some of its magnetism and open the door for another gap sometime in the near future. The probabilities very slightly favor the bulls for a short term rally but the bears continue to be in control of the longer term, especially as long as oil prices remain under sell pressure.

GIGM negated one bullish indicator in the fact that the flag formation that was in place became invalid when the stock traded below .94 cents. By the same token, the stock did break a 7-week impasse where the bulls had been unable to generate any new buying and did create what could become a spike low retest of the important support at .87 cents. The stock needs to generate some buying this week above last week's high at .99 cents but if that does occur the chart will look even more bullish for the longer term though the shorter term will likely be delayed a bit. The stock did close exactly in the middle of the week's trading range, suggesting the traders have not yet made a decision but it is likely that a break above last week's high at .99 or below last week's low at .87 will see follow through in whatever direction is chosen. Probabilities are split evenly.

PACB generated a new 41-month weekly closing high and the stock closed on the highs of the week, suggesting further upside above last week's high at 7.50 will be seen this week. The stock still has 2 intra-week resistance levels above at 7.60 and at 8.19 but the new multi-year weekly closing high has now increased the chances that the bulls will be able to break above those levels shortly and generate a rally toward the $10 level. On a daily closing basis, the stock only has 1 resistance above and that is at 7.77. Should the bulls be successful any day this week in closing above that level, a buying binge might occur. Daily close support is now found between 6.90 and 7.06 but unless the indexes take an unexpected dip this coming week, the bulls will be committed to making a new high before the $7 level is seen again. Probabilities favor the bulls.

RFMD was successful in shaking off a downgrade this past week and making a new 12-year weekly closing high. The initial reaction to the downgrade was a negative as the stock went below last week's low at 14.69 that was also considered a decent support level on the intra-week chart. Nonetheless, the bulls were then able to turn the stock around and make the new high and in the process generating a positive reversal week (low below the previous weeks low and closure above the previous week's high), as well as a close near the highs of the week, suggesting that further upside above last week's high at 16.07 will be seen. The only concern for the bulls, after this bullish reversal, is that the company that gave the downgrade from buy to neutral stated that the fundamental price objective of $16. Chart-wise though, the stock has no resistance until the $18-$22 level is reached and the resistance there is considered minor. Any drop now below last week's low at 14.45 would be a cause for concern for the bulls.