AAPL generated a 5.2% recovery rally this past week and closed on the highs of the week, suggesting further upside above last week's high at 100.73 will be seen this week. Intra-week resistance is found at 101.53 and at 103.74. The gap between 103.91 and 98.71 remains unclosed but if the minor resistance at 101.53 is broken, the stock will likely get up to the 103.74 level and if the gap is closed, it will take away a strong negative. By the same token, the resistance at 103.74 is decent enough that it might be reached but not likely broken, meaning the breakaway/runaway gap formation is likely to stay in place. Stop loss is presently at 101.63 but the probabilities favor it being triggered and a rally up to 103.74 occurring. As such, if the stock falls back to 98.68, where intra-day support is found, consideration should be given to covering the short and scratching the trade. By the same token, re-shorting or adding positions should be considered on a rally up anywhere close to 103.70 using a stop loss at the closure of the gap at 103.91. Company is having some problems at this time and is a viable candidate to go against the indexes if they should go higher as expected. In addition, there is an open gap down between 95.67 and 95.43 that will likely be a magnet until closed.

AMT bears were unable to generate follow through to the downside this past week and the stock ended up having an inside week but with a close on the highs of the week, suggesting further upside above last week's high at 106.54 will be seen this week. With the all-time high just $1.18 from the close on Friday, it is likely that level will be tested this week and if broken by more than 50 points (as the previous all-time highs failed to do), further upside (likely up to $110) will probably occur. By the same token, if the indexes go higher but the bulls fail to make a new all-time high this coming week, it will be a big disappointment. Chart strongly favors the bulls as a bull flag is presently in place that if 107.24 is broken will offer a 126.46 objective.

ARNA generated a positive week with a green close, confirming the previous week's successful retest of the 1.50 area on the weekly closing chart. In addition, the stock closed on Friday above a minor to decent weekly close resistance level at 1.70 with a close at 1.75 and if the bulls are able to get above 1.76 this coming week (likely since the stock closed on the highs of the week at 1.75), it will be a signal that a strong base of support has been built at 1.50 on the weekly closing chart. Intra-week resistance is found at 1.76 and then nothing until decent intra-week resistance is found between 2.05 and 2.07, which proved impossible to break the last time the stock visited that area in April. A break above 2.07 would be a strong signal that the downtrend is over and that a decent short-covering rally will occur with the first objective being the 2.68 high seen in November. Probabilities are now favoring the bulls.

CVX generated an inside week but a green close on the highs of the week, suggesting further upside above last week's high at 102.37 will be seen this week. The bulls did close the stock just 16 points from the 52-week weekly closing high at 102.18 and if able to generate another green close next Friday, above 102.18, it will generate a failure to follow through signal to the downside that would likely help the bulls run another up leg with the 200-week MA, currently at 110.05 as the first objective. Intra-week resistance is found at 104.26 that if broken would be a strong reason to cover the short positions. Minor but short-term pivotal intra-week resistance is found at 102.60 and at 102.80 and then intra-day resistance is found between 103.70 and 103.85. Short-term pivotal support is found at 100.87. Probabilities slightly favor the bulls but this is a pivotal week.

ENG had an uneventful week, having generated an inside week and a close on Friday at the same level it closed at the previous Friday. The stock closed on the lows of the week and further downside below last week's low at 1.10 is likely to be seen. Decent and pivotal daily close resistance is found at 1.20 and important daily close support is found at the 200-day MA, currently at 1.05. Probabilities are evenly split between bulls and bears though the burden of proof is still on the shoulders of the bears.

FCEL is now showing 3 weeks in a row of green closes and 2 weeks in a row above the minor to decent weekly close resistance at 6.16, suggesting that the bulls now have the decided edge as far as a bottom having been built and the downtrend being over. The stock closed on the highs of the week and further upside above last week's high at 6.80 is expected to be seen. Intra-week resistance is found at 7.05, at 7.35 and at 8.08. The stock is showing what looks to be a short-term pivotal daily close resistance at 7.25 that if broken would give not only a new buy signal but would suggest that the bulls will attempt for a second time this year to break above the 8.01/8.25 daily/weekly close resistance area that would give a failure to follow through signal to the downside but would also break convincingly the 200-day MA, currently at 7.60, which is a line that has not been broken to the upside for the past 21 months. Support is now crucial and pivotal at 5.38. Probabilities favor the bulls.

FSLR generated the 2nd green weekly close out of the last 10 weeks but it was an important one as it made the previous week's intra-week low at 46.67 into a successful retest of the $47 level, which is important as a general support ($3 below $50) and of a previous intra-week low of importance at 47.04. The stock closed in the upper half of the week's trading range, suggesting further upside above last week's high at 51.33 will be seen this week. In addition, the stock closed exactly on the 50-week MA, currently at 49.90, and if the bulls can generate another green close next Friday, it can be said that the important retest of that line has been successful. Intra-week resistance is found at 52.75 and decent, as well as pivotal, at 53.67. Support is now found at 49.10 and at 48.58 that should not be broken at this time. Probabilities favor the bulls and a rally up to the 53.67 level.

IBM had a strong week up and a close on the highs of the week, suggesting further upside above last week's high at 152.93 will be seen this week. The stock is presently showing a bullish flag formation with the top of the flag being at 153.52, which if broken would offer an upside objective of 179.73. Considering that the 200-week MA is currently at 175.50, it is a viable objective if the bulls are able to break above the top of the flag by at least 50 points. It should also be mentioned that on a weekly closing basis, a close above 153.31 would also give a failure to follow through signal to the downside, which in turn would give added ammunition to the bulls for the rally up to $175. Probabilities favor the bulls but this area is pivotal and will likely require that the indexes breakout and resume their uptrend. Any failure here would suggest the stock will drop down to at least the $140 area.

MMM failed to follow through to the downside last week after closing near the lows of the week the previous week and the bulls took advantage to rally the stock to close near the highs of the week, suggesting further upside above last week's high at 170.77 will be seen this week. Nonetheless, the bulls failed to generate a new all-time high weekly close, closing at 168.89, which is below the 2 previous high weekly closes at 169.00 and 169.05 and slightly above the high weekly close seen in February 2015 at 168.65, suggesting that there is still some selling interest being seen. The multiple high weekly closes in the same area suggest that the bulls will ultimately come out the victors but the big question remains "how will the bulls be able to generate a lot of new buying interest if the $170 level has been such a long-standing and tested-successfully-repeatedly area? (5 times over a period of 15 months). Consideration should be given to covering shorts if the stock gets above the all-time high at 171.27.

ORCL had a positive week but the bulls were not able to accomplish as much with the stock as they accomplished with other short-held stocks, suggesting that there is still some decent selling interest. The stock remained below the 100-week MA, currently at 40.20, and still 4.6% below the recent high at 42.00 seen in March and it should be mentioned that the 100-week MA has been a decent indicator for the stock for many years. Decent intra-week resistance is found at 40.64 that if not broken this week, especially if the indexes move higher, would signal that the bears still have the edge. As such, a stop loss at 40.74 seems to be a sensitive but smart thing to do, considering what is happening with the index market. Probabilities are about even this week. The chart of the stock suggests that it is still one to consider staying short even if the indexes continue higher and the stop loss is not triggered.

T has been "spinning its wheels" for the past 11 weeks, having traded between 37.73 and 39.72 during this period of time. With the resistance at $40 going back 8 years, it does suggest that even if the indexes go higher that this stock is not likely to do much. Nonetheless, the stock did close on the highs of the week, suggesting further upside above last week's high at 38.99 will be seen this week. Intra-week resistance is found at 39.01, at 39.15 and at 39.25 and then nothing until the double top at 39.66/39.72. If the bulls are able to get the stock above 39.25, the probabilities will favor the double top being reached and broken, which in turn would suggest a rally up to 40.70 would occur. As such, a stop loss at 39.35 seems to be the "way to go".