NUAN continued its recent breakdown but the stock has reached levels of support that are quite strong. The 100-week MA as well as strong previous weekly closing support is found down at 15.40. With the low this past week at 15.88, it can be said that it's possible the downside objective has been reached or will be reached soon. In looking at the weekly chart, it is likely the stock will be strong this week and rallies up to the 17.89-18.21 level could occur. Nonetheless, the area between 18.00 and 18.42 is major resistance and not likely to be broken this week or next and therefore long positions should be considered for liquidation if the rally occurs. Whether the stock reaches the 15.00-15.40 level, during the next few weeks, or whether just a re-test of the low this week at 15.88 is seen, is not something I can evaluate right now. Certainly, though, if a rally occurs this week, it is likely that a re-test of the 15.88 low will be seen before the stock starts trading higher. Support this coming week is likely to be found at 16.40 and for the week, that would be a good buying point looking for rallies up to the 18.27 level.

ELON tested the 50-day MA with the drop down to 13.47 this past week and closed right at the 100-week MA at 14.02 on Friday. The stock seems poised for a strong move upward and break of the daily closing resistance at 15.20. With the green close on Friday and the indexes looking like they will have follow-through on Monday, it seems that if ELON is able to get above Wednesday's high at 14.47 that buyers will come in strongly. A break below the low of the week at 13.47 would be seen as a negative and could generate drops below $12. That means that a stop loss at 13.37 should be placed. Possible upside objective for the week could be as high as 17.39 but expect resistance to be seen at 15.55 and at 16.56. Probabilities of a rally upward this week are high.

STP closed on Friday above the previous week's close at 40.24 and confirmed that close as a successful re-test of the 200-week MA. Such a successful re-test could generate strong moves upward in the stock during the next few weeks (look at what ELON did when it confirmed a successful re-test of the 200-week MA). Resistance will be decent up at 42.10-42.20 as that is the most recent high peak, a previous high close of importance, as well as where the 20-day MA is located. With the stock having closed on the high of the day the possibility of a gap opening does exist and this is an area where a gap opening could occur. STP still shows an open gap down at 30.80-31.79 and that gap needs a sister gap so that it can be considered a breakaway gap and runaway gap. The stock did trade higher after hours on Friday and therefore a gap above 42.10 on Monday would be a strong buy signal and one that should be chased. As far as support is concerned, there is now going to be strong support at 38.69 (intra-day) and at 38.96 on a daily closing basis. There is some minor resistance at 42.50 but other than the MA's (the 50-day at 43.20 and the 100-day at 44.00) there is no resistance of consequence until 46.89, on a daily closing basis. Keep in mind, though, that the MA's have not been of consequence during the past few months.

YGE was unable to reverse the weekly downtrend as it closed lower than last week's close, nonetheless, on the daily chart the stock negated the break of the daily closing support at 18.32 with a close at 18.85. This is a signal that the downside is likely over. Resistance will likely be quite strong between 20.00 and 20.62 but a close above 20.79 would be a strong buy signal. Support should now be very strong at 18.10 intra-day and on a daily closing basis at 18.32. There is some minor resistance at 18.95 that needs to be watched as a failure to get above that level would put the pressure back on the stock.

ORB closed on Friday at a very important level at 23.50. That is where the 50-week MA, as well as a major previous high, are located. There is very decent support, on an intra-day basis, between 22.91 and 23.09 and with Friday's low at 23.03, it can be said that level was tested. Resistance will now be quite decent at 24.15-24.65 where the 200-day and 100-day, respectively, are seen. In addition, a rally above 24.42 would mean a possible reversal of the recent weekly downtrend. as that was this week's high. In addition, the $25 level is a major pivot point and if the stock is able to get above that level, a move of at least $2 would likely ensue. The weekly up-trend is still intact and if the stock is able to close above 25.54 on a Friday, the probabilities of the up-trend resuming would be strong. For this week it is likely the stock will trade between 23.14-24.42 or 23.50-24.65.

ANGO is at a very pivotal level and its likely that the stock will make a decisive decision this week as far as the trend for the next few weeks. Keep in mind that this is not a stock that moves in conjunction with the indexes so whatever they decide to do is not likely to help or hinder ANGO. The daily chart looks quite bearish with an inverted flag formation that if broken (a break below 14.50) would project down to 13.60. Nonetheless, the stock has been trading all week right above the 50-day and 20-week MA and if able to keep above those lines could generate a rally. A break above 15.15 would be positive for the stock. Stop loss order can now be placed at 15.25 thus locking in profits. A break below 14.50 should be reason to add positions as the objective of the trade continues to be closure of the gap down at 11.88.

FTEK broke fast and aggressively this past week with no news having come out to support the break. All support levels of consequence were broken intra-week but on Friday the stock showed a reversal pattern by breaking down strongly during the day and closing in the green. In addition, the close was higher than the previous days' close, which was right on the 100-day MA, and that could signal that the 100-day MA was successfully tested. A green close on Monday is necessary to confirm, as the close on Friday was only 9 ticks above the previous day and not enough to confirm the test as successful. The drop during the week, though, was quite negative and it is evident the stock must now go through a process of backing and filling over the next few weeks to re-generate buyer confidence even if the stock is able to confirm the successful re-test of the 100-day MA. Resistance will now be quite strong at 22.84 while support is only minor down at $20. If the stock is able to close in the green on Monday, then the 21.21 level, on a daily closing basis, will become strong support. Possible trading range for the Monday is 21.20 to 22.84 but if the stock opens below 21.00 then that trading range will likely be negated. One last thing, if the stock opens above 21.53 and does not trade below it, the stock could have a much stronger week than I have mentioned above. The reason is simple, as the weekly chart shows that the 21.53 was the lowest intra-week point for the last 10-weeks and when that level was broken, the stock collapsed. If the stock is able to keep itself above 21.53 all this week, the break will be totally negated and the "rubber band" theory would kick in, giving the stock the potential for a rally up to the $27 area this week. Lots of "ifs" but with action this stock did this past week, without fundamental news, all of this is possible.

VLO broke below the lowest intra-week point since August 2005 but was not able to make a new 34-month weekly low close. That must be seen as a positive. With the markets pivoting all this week on high oil prices and yet oil failing to go higher on Friday, and the Saudi's talking about increasing oil production to offset the recent craziness in prices, it seems that VLO might just have been a good purchase here. The previous low weekly close is 44.56. On Friday the stock closed at 44.84 thus negating the intra-week break down to 43.06, below the previous intra-day low at 44.55. Minor resistance at 45.92 and the nothing until 50.77 other than the 20-day MA at 48.50 and the 50-day at 49.20. Keep in mind that these two MA's have not been of consequence at all for last 3 months. Should the stock be able to get above the minor resistance at 45.92, it is likely to run aggressively up to the $50 level within a day or two at most. Stops should be placed at 42.96 but based on the late week action, it is unlikely they will be triggered.

RIO broke below decent weekly support levels this past week and looks like it is barely holding, using the 200-day MA as the support. Nonetheless, the stock was able to close in the green on Friday thus increasing the possibility that the test of the 200-day MA was successful. A further green close on Monday is necessary to confirm. In looking at the intra-week trading, the chart does have a bearish short-term formation that if Friday's low at 34.06 is broken would project a drop down to 30.00-30.50. Stops should be placed at 33.96. Resistance is quite evident at 35.74 from the 100-day MA and at 36.22 from a previous intra-day high as well as daily close. Strong resistance will now be found at 38.22-38.72 from previous major intra-day highs as well as from the 20 and 50 day MA's. It is evident the stock needs to rally on Monday as any further weakness will generate strong selling. A rally this week up to the $36 level is needed to begin to negate the small but clearly evident inverted flag formation. Weekly chart requires a close above 36.50 on a Friday, to re-stimulate the upside.

ITG was able to confirm the successful re-test of the 200-week MA as well as the previous weekly low closes at 37.09 and 37.45 with the close on Friday at 39.39. Probable trading range for this coming week is 38.00-42.00. Decent resistance, on a weekly closing basis, starts at 40.52 and then gets strong at 42.10 and 42.50. A close on a Friday above 42.50 will likely thrust the stock up to the $45 level. In using the daily charts, resistance will be decent just above the $40 level but it does seem likely the stock will get up there this week. Support is decent at 39.10 and then again at 38.45. If the stock is able to get up and close near or just above $40 support, on a daily closing basis, will then be strong at 39.44. A lot will depend on what this stock does this coming week but this is a stock that normally runs with the indexes and if the indexes are strong then ITG will likely be strong as well.