ARNA made another new 25-month intraweek and weekly closing high on Friday and closed near the highs of the week, suggesting further upside above last week's high at 28.77 will be seen this week. The stock has now generated 9 green weekly closes out of the last 10 weeks and is presently overbought using the Slow Stochastic oscillator. The stock is nearing the 200-week MA, currently at 31.45, that has not been broken to the upside since January 2015 (34 months) and that on a weekly closing basis will be difficult to break the first time around. Nonetheless, in January 2015, the stock did break the line for 1 week by $10 on an intraweek basis and by $1.80 on a weekly closing basis, suggesting the same thing could be seen now but likely on a smaller scale. On an intraweek basis, there is decent resistance between 34.70 and 34.80 and on a weekly closing basis, there is resistance at 30.70 and stronger between 33.90 and 34.20 that are highly unlikely to be broken at this time. On a weekly closing basis, support is decent at 24.60 and minor at 28.00. As such, the chart suggests the stock will rally up to one of the levels mentioned above and then get into a trading range between $24 and $34 for the next 3-6 months thereafter. As such, taking profits short-term should be considered on any rally up to the $34 level. Probabilities favor the bulls this week.

BHTG generated a red weekly close but the bears were unable to close below the previous low weekly close at 5.65, meaning that the bulls maintain the edge as the stock is in a mid-term uptrend. Last week's high and low at 6.00 and at 5.29 could be at risk of being broken since the stock closed in the middle of the week's trading range, but the probabilities favor the bulls. If the 6.00 level is broken this week, last week's low at 5.29 will be seen as a second spike low retest of the 4.75 low seen in August and that should give the bulls some new ammunition. To the upside, minor to decent as well as short-term pivotal resistance is found at 6.30. To the downside, minor to decent as well as pivotal support is found at 5.01. Probabilities favor the bulls.

CAT generated an uneventful inside week with a red weekly close that means the bulls were unable to generate any further upside in spite of closing near the highs of the week the previous week. The stock did close near the highs of the week, suggesting further upside above last week's high at 137.81 will be seen this week. By the same token, if that occurs but the all-time high at 140.43 seen 2 weeks ago is not broken, it could mean a successful retest of the all-time high may have been made and a correction is to follow. Pivotal support is found at 134.79 that if broken would suggest the gap down at 132.34 would be targeted. The chart suggests that this coming week will be slightly biased to the upside but if the bulls are unable to get above 137.81, the bears will gain a short-term edge. Probabilities slightly favor the bulls.

CLF generated another red close week (3rd in a row and 7 out of the last 9) but the bulls were able to rally the stock enough to close in the middle of the week's trading range, leaving the door open for a rally above last week's high at 6.41 or below last week's low at 5.69 depending on the fundamental outlook for the company. The stock is still in a mid-term uptrend and the close was exactly at the 100-week MA, which is a line that has been pivotal and strongly indicative of trend for the past 10 years, suggesting that the inability of the bears to close below the line is a positive for the bulls. In addition, the stock got to within 13 points of a pivotal intraweek support at 5.56, meaning that what the stock does this week (above last week's high of below last week's low) will likely be indicative of trend for the next 1-3 months. A break above last week's high at 6.41 suggests a rally up to the 7.00 level will be seen. If that occurs, the worst of the recent downtrend will likely be over. A drop below 5.56 would be a strong and new sell signal. Probabilities favor the bulls.

ENG reported disappointing earnings and the stock dropped 25% in value on Friday. The stock closed near the lows of the week and further downside below last week's low at .80 is expected to be seen this week. An additionally possible negative is that the stock closed below the 5-year 2-point uptrend line that connected at 1.04, opening the door for the uptrend to be over if and when the stock continues lower and/or does not recover over the next week or two. Minor intraweek support is found at .79 and pivotal at .68 and minor resistance is now found at 1.01. Over the past 9 years, previous spike lows as was seen this past week have not generally resulted in follow through, meaning that if there is no follow through this week, the downside objective of this downtrend (which had been .94 cents) will have been achieved. Probabilities favor the bears but it is an important week.

FCEL continued to trade sideways as this was the 4th week in a row of weekly closes between 2.15 and 2.21. Nonetheless and as I stated last week, the sideways trading is actually bullish given that the stock made a new 52-week high 5 weeks ago and the bulls have not given back any of their gains. The stock closed slightly in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 2.31 than below last week's low at 2.10. Intraweek resistance is found at 2.26, at 2.37 and pivotal at 2.49. Any break below 2.01 would now be seen as a negative. Probabilities favor the bulls.

GS made a new 8-month intraweek high by 67 points (247.74 vs 247.07) but the bulls were unable to confirm the breakout on Friday when the stock closed below the most recent high weekly close at 244.65 and still clearly below the 6-month high weekly close at 246.02. The inability of the bulls to "make a statement" and confirm the intraweek breakout, especially with the indexes continuing to go higher, strongly suggests that on a mid-to-long-term basis the stock is presently fully valued. Nonetheless and for this week, the bulls still have a small edge given than the stock closed slightly in the upper half of the week's trading range, suggesting a slightly higher probability of going above last week's high at 247.74 than below last week's low at 239.53. It is interesting to note though, that between December 8th and January 17th (26 trading days) the stock traded sideways between 235.37 and 245.84 and then broke out with a high at 247.77 and then proceeded to "fall out of bed" with a drop down to 227.05 within 3 weeks. With the stock making a new 8-month high on Friday but not confirming the breakout and Friday being the 24th day in a row of sideways trading, it would not be surprising to see the same identical thing happen to the stock this week, which is "falling out of bed". Evidently, the 247.74 high seen on Thursday matches up well with the 247.77 high seen on January 13th, meaning that if the same thing is to happen this time that it will start happening this week. Minor to perhaps decent and short-term pivotal support is found at 239.53 and stronger support is found at 235.19 that if broken would suggest a drop down to the 200-day MA, currently at 230.75. Probabilities should favor the bulls this week but based on the history given above, they probably favor the bears.

MNK had a bit of a wild week given that a small short-term buy signal was given on Wednesday but then the purchase/merger of OCR was announced on Thursday and the buy signal got negated. Nonetheless, the end result for the week was a positive reversal week, having made a new all-time low that was followed up by a green weekly close on Friday. The positive reversal is in question since the stock closed in the lower half of the week's trading range because of the event that occurred on Thursday, meaning that the chart suggests that a lower low below last week's low at 30.08 is expected to be seen this week. Nonetheless, the acquisition of OCR is not necessarily a negative and as such there is a good possibility that no further downside will be seen. Intraweek resistance is now found at 32.58 and at 32.90 that if broken would suggest that a rally up to the gap area between 36.20 and 37.15 could occur. The $30 demilitarized zone (29.70-30.30) is considered psychological support. Probabilities slightly favor the bulls.

SLCA generated a spike up this past week as well as a 2nd green weekly close and a close in the upper half of the week's trading range, suggesting further upside above last week's high at 31.91 will be seen this week. Oil did generate an important breakout on Friday that suggests it will go up an additional $5-$7 in value, meaning that the stock is also likely to continue higher as well. Resistance is found at 31.91, at 32.55 and at 33.72 but given that oil is likely to continue strongly higher, the probabilities now favor all of those resistance levels getting broken and the traders targeting the 200-week MA, currently at 36.00. Minor but likely short-term indicative support is found at 29.71 and pivotal at 27.42. Based on what oil is likely to do, the stock should show green all week and get up and likely break immediately (Monday or Tuesday) the resistance at 31.91. If that occurs, the other resistance levels should be targeted and broken over the next week or two and the upside target of the mention at $36-$37 reached within 3-4 weeks. Probabilities favor the bulls.