ARNA seems to have found a level of support around the 2.54 level where further downside will be labored and difficult to achieve. The stock has now traded for the past 8 trading days between 2.54 and 2.84, in spite of the wild gyrations seen in the index market, also suggesting that the bears may have run out of ammunition while the bulls have not yet gotten any new ammunition with which to rally the stock. The stock "technically" generated a positive reversal last week, having made a new multi-year low at 2.54 (1 point below the previous week's low at 2.55) but then closing in the green and in the upper half of the week's trading range, suggesting further upside above last week's high at 2.84 will be seen this week. Very minor weekly close resistance is found at 2.80 and a bit stronger at 3.07, which includes the most recent mini-spike high at 3.05. Further resistance is found at 3.32, which represents the important low weekly close that got broken and that brought about this recent drop down to 2.54. Probabilities seem to favor the bulls slightly this week but not for any strong move to the upside, likely more for a "small" short-covering rally.

ENG generated a green weekly close on Friday that could signal the beginning of a small short-covering rally. Unfortunately, the bulls were unable to get above the previous weeks high at 1.06 in spite of the green weekly close, meaning that the bulls still have no ammunition with which to generate new buying interest. Nonetheless, the stock did close on the highs of the week and further upside above last week's high at 1.04 is expected to be seen, suggesting that if the 1.06 level is broken that 1.09 will be seen and if 1.09 is broken that perhaps a rally up to the recent breakdown low at 1.28 (1.31 on a weekly closing basis) might occur. It should be mentioned that between July and October 2013 the stock traded between .93 and 1.35 and having seen a low of .87 cents 3 weeks ago, the probabilities of the stock generating the same kind of movement and trading range are high. Probabilities slightly favor the bulls this week.

FCEL has generated a 33% rally in price over the past 2 weeks (25% off of the weekly closing prices), giving notice that the downtrend is over as any rally above 20% usually means a change of trend. The stock closed near the highs of the week and further upside above last week's high at .95 is expected to be seen. Nonetheless, the action this week will likely be dependent on the earnings report that comes out on Tuesday after the market closes and if the report disappoints, all could be negated. By the same token, it is unlikely the report will disappoint as the company has been quite constant over the past 2 years with its earnings reports and continues to come up with new business, suggesting that better numbers than the last report (rather than worse numbers) are the probability, especially given the fact that the last report was below expectations. General resistance will be found at the 1.00 level but based on the chart, any weekly close above 1.12 will be a strong positive, as well as any daily close above the 200-day MA, currently at 1.20. Support of consequence is found between .64 and .70. Probabilities favor the bulls.

FSLR generated a small reversal week, having gone above the previous week's high and then closing in the red and near the lows of the week, suggesting further downside below last week's low at 46.39 will be seen this week. The stock has been somewhat sensitive to the index market (though not totally) and will likely be affected by what the index market does this week, which is anticipated to be down. Very minor intra-week support is found at 46.39 and then nothing until minor intra-week support is found at 44.09. Stronger intra-week support is found between 42.71 and 43.28. Nonetheless, on a weekly closing basis, it is unlikely that the 200-week MA, currently at 44.00, will be broken, though it is likely to be seen if the indexes do what they are expected to do. Resistance is found at last week's high at 49.34 and then at the 200-day MA, currently at 50.90. Probabilities favor the bears this week.

IBM generated yet another red weekly close, the 12th out of the last 16 weeks and the third in a row since breaking the weekly close support 153.31, and the recent selling has put the stock into a bit of a tailspin, given that there is no support close-by below. The stock closed near the lows of the week and further downside below last week's low at 141.85 is expected to be seen. It does need to be mentioned that there is no chart support found until the 131.38 level (based on the weekly closing chart) is reached. Even then, that support is from a previous high weekly close. Previous low weekly close support is not found until the $122 level is reached. Minor intra-week resistance is found at 148.03 and slightly stronger at 148.93. This stock is worth chasing, now using a stop loss at 149.35 and having at least a $131 objective, if not all the way down to the $120-$122 level. Sales can be considered around the 144.00 level since the chart does not suggest that the bulls will be able to get the stock above that level at this time. Sales of the stock around 144.00 and using a 149.35 stop loss and having a 122.00 objective will offer a 4-1 risk/reward ratio.

KMX generated a negative reversal week, having gone above the previous week's high and then closing in the red and in the bottom half of the week's trading range, suggesting further downside below last week's low at 58.28 will be seen this week. Nonetheless, the bulls were able to close the stock on Friday in the $60 demilitarized zone, leaving the door open for recovery if and when the indexes don't head lower and/or some positive news comes out. By the same token, the chart is leaning to the downside and a daily close below 58.56 would likely tip the scales toward the bears, while a daily close below 57.18 would be a new sell signal that would suggest a drop to somewhere between 51.21 and 53.78 would be seen. Any daily close above 62.10 would tip the scales toward the bulls, while a daily close above 63.13 would generate a buy signal. Probabilities favor the bears but with a slight margin.

LVLT generated a new 10-month intra-week and weekly closing low this week, keeping the recent downtrend intact, given that the red weekly close was the 9th in a row and the 16th out of the last 19 since the 6-year high at 57.08 was made in May. The bulls though, were able to close the stock in the upper half of the week's trading range, likely because of the upgrade that was given to the stock on Tuesday, meaning that the week's direction is muddled at this time. By the same token, the bulls were unable to generate even the most minimum buy signal on the daily closing chart, even after the upgrade, suggesting that the probabilities still favor the bears. Resistance is found at 45.87, a bit stronger and likely more pivotal at 46.24 and then from the weekly charts and likely the most pivotal between 47.00 and 47.50. The stock is showing a bearish inverted flag formation with the flagpole being the drop between 49.73 and 42.89 and the flag the trading range seen the last 11 trading days between 42.89 and 46.24. A break below 42.89 would offer a 39.40 downside objective.

PGR generated a red weekly close on Friday, but more importantly it was below the $30 demilitarized zone, suggesting that for now the bears have the edge. The stock closed near the lows of the week and further downside, below last week's low at 29.12, is likely to be seen this week. Nonetheless, the stock has been acting slightly better than other stocks that are index dependent, suggesting that the recent intra-week low at 27.23 is not likely to get broken unless the indexes get into downtrend, rather than a correction. As such, the likely best scenario for the bears would be a drop back down to the 200-day MA, currently at 27.70. Minor support is found at 29.12 and then nothing until the 27.70 to 28.00 level is reached. Resistance above is found at 30.08 and 30.38 which if broken would suggest the recent all-time high will be tested. Probabilities favor the bears but with only the real possibility of the stock dropping an additional 6% in value, the stock is not considered one that should be kept if other opportunities arise.

PHM generated the 3rd red close week in a row but the action seen during the week does not give the bears a big edge on the charts that they would like to have. The stock did rally to close the gap left 2 weeks ago between 20.67 and 20.81, meaning that there aren't many reasons for the stock to rally from here, especially if the indexes are heading lower. By the same token, some support will be found at 19.28 that if not broken this coming week would suggest a sideways market rather than a corrective one. Support is found at 19.28, at 18.90 and at 18.61 that if all are broken then the trade objective of reaching the 200-week MA, currently at 17.10, will likely be fulfilled. Resistance is now found at last week's high at 20.87 that if broken, the short should be covered. By the same token, this is not a trade that offers a high profit potential, meaning that if a better opportunity is found that it should be taken and the small profit on the short procured.

PRAA generated a new 6-month low, as well as breaking 2 decent weekly close supports at 53.48 and at 51.90, suggesting the bears are now in total control of the short-term trend. The stock closed on the lows of the week and further downside below last week's low at 51.07 is likely to be seen this week. Support is decent to perhaps even strong between 50.29 and down to 47.34 that will be difficult to break. The stock should get down to at least the 50.29 level where consideration for taking profits could be given. By the same token, the momentum is on the side of the bears and if the indexes head lower toward their downside objectives, it is possible the traders will attempt to trigger all the stop loss orders below and take the stock down to the 200-week MA, currently at 46.10. As such, it will likely be worth using some restrain when considering taking profits. Any rally now above 54.15 would be reason to consider covering the shorts.

WMT continued the downtrend, having generated the third red weekly close in a row below the 3-year weekly close support at 67.37. The stock closed on the lows of the week and further downside below last week's low at 63.27 is likely to be seen this week. By the same token, previous high weekly close support is found at 62.41/62.48 that is likely to stop putting a brake on the downtrend, even though on an intra-week basis the stock could drop down as low at 57.18 which is where previous intra-week low support is found. Intra-week resistance is found at 66.17 that if broken would be reason to consider covering the short positions. Probabilities favor the bears.

XOM was unable to follow through to the upside, above last week's high, and closed in the red and on the lows of the week, suggesting further downside below last week's low at 71.51 is likely to be seen. The inability to follow through to the upside was likely due to the fact that oil prices also did not follow through and experienced a bit of retracement that was not unexpected given the fact that they had rallied over 25% in price the week before. Minor support is found at 71.51 and below that there is no recent established support until the recent low at 66.55 is reached. Nonetheless, the $70 demilitarized zone should offer decent support, given its psychological nature as well as from the fact that in 2011 the $70 demilitarized zone provided support on a total of 8 different weeks. Probabilities favor the bears this week but in reality the bulls seem to have turned things around and as such, after a short retracement the bulls should see further upside.