AMZN extended its rally this past week, having gone above the previous week's high and closing in the green. Nonetheless, like the previous week, there was some volatility and movement as the stock fell $20 from its high between Wednesday and Thursday, meaning that the traders are ready to take profits if any negative news comes out. Nonetheless, the stock did close in the upper half of the week's trading range and further upside above last week's high at 1135.54 is expected to be seen this week. The stock has not yet seen a retest of the gap 1050.55 or the previous all-time daily closing high at 1052.80 and that is highly likely to occur before much higher prices can be seen. The stock now shows a minor but short-term pivotal support at 1086.87. The stock did go above Thursday's high on Friday but then closed on the lows of the day, suggesting the first course of action for the week will be to the downside below Friday's low at 1124.08. If that is seen, a successful retest of the all-time high will have occurred on the daily chart and if 1115.77 gets broken a drop down to test last week's low at 1108.77 will be seen and if that level gets broken, it will be a sign that at least a temporary top to this rally has been found. Probabilities still favor the bulls for a bit more upside before a correction starts.

ARNA generated a negative reversal week, having made another new 25-month intraweek high but then going below last week's low and closing below the previous week's low. The reason for the reversal was a worse than expected earnings report. Nonetheless, the negativity of the reversal did not get confirmed on the daily closing chart given that the previous 25-month daily closing high at 26.01 did not get broken (closed at 25.97) and then was followed by 2 green closes on Thursday and Friday. In addition, the stock closed in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 28.97 than below last week's low at 24.33. The stock had not seen any type of correction for the past 12 weeks and was overdue for one. As such, last week's spike low at 24.33, is now likely to be the new support level for the next push upward. The upside objective remains the 200-week MA, currently 31.20. Probabilities slightly favor the bulls this week.

BHTG generated a new 15-week low weekly close and closed on the lows of the week, suggesting further downside below last week's low at 5.20 will be seen this week. There is presently a 2-point trend line using the 2 spike lows at 4.75 and at 5.01 seen over the past 3 months that connects at 5.20, meaning that if the line is broken (especially if the most recent low at 5.01 is broken as well) that a drop back down to at least 4.70/4.75 would occur. Such a drop would suggest that the stock is in a sideways mode between $5 and $10 for the foreseeable future and that resumption of the uptrend would require new positive fundamental news. In addition, such a drop would also open the door for negation of the breakout. Pivotal resistance remains at 6.30. Chart suggests this coming week is short-term pivotal.

CAT generated a negative reversal week, having gone above last week's high and below last week's low and closing in the red and slightly in the lower half of the week's trading range, suggesting a higher probability of going below last week's low at 134.65 than above last week's high at 138.90. In addition, if the stock does go below last week's low next week, last week's high will become the needed/required retest of the all-time high at 140.44, which in turn would suggest that a temporary top has been found and that a correction has started. The stock is showing a 15 week rally with higher lows than the previous week, meaning a high probability that a correction has started and if so that there is no support nearby of consequence. The previous all-time high weekly close is at 110.17 and that would become the likely target of such a correction. Now likely pivotal resistance is found at last week's high at 138.90, meaning that a stop loss at 139.35 can now be used. Probabilities favor the bears.

CLF has now spent 11 days trading in a 30 point trading range between 5.96 and 6.29 (based on daily closes), suggesting that the bears have run out of ammunition to push the stock lower. The 6.00 level has been decent daily close support since May, also suggesting that the bears will need negative fundamental news to generate further sell interest. In addition, the stock remains in a midterm uptrend that started 22 months ago when the stock made an all-time weekly closing low at 1.40, given that each important weekly closing low has been higher than the previous one (1.82, 2.91, 5.34 and 5.69). Friday's close at 6.01 was the lowest weekly close in the last 5 months but still above the previous low weekly close of importance at 5.69. The stock closed on the lows of the week and further downside below last week's low at 5.97 is expected to be seen this week. Nonetheless, 3 weeks ago the stock made an intraweek low at 5.69 and if that level is not broken this week and a green close occurs next Friday, it would strongly suggest that the worst of this recent 10-week downtrend is over. Short-term intraweek pivotal resistance is found at 6.41. Support is at 5.69. A break of either of those levels would be indicative. Probabilities favor the bulls this week though it is likely the stock will start under some sell pressure at the beginning of the week. It does seem like this week is pivotal.

ENG generated minor follow through to the downside this past week, having made a new 22-month intraweek low by .004 cents (.80 vs previous week at .804) and a new 22-month weekly closing low at .835. There was very little movement in the stock as it traded in a $.11 cent trading range versus the previous week's $.48 cent trading range. Nonetheless, the volume matched the previous week's volume (269k vs the previous week's 295k) which when compared to the volume seen the previous 15 weeks was double, likely meaning the buying interest matched the selling interest this past week. The previous low weekly close of importance was seen in January 2016 at $.77 cents, followed 6 weeks later with a close at $.81 cents, meaning that the stock is now likely at a "major" long term pivot point given that an uptrend (though minor) has been in place since 2013 that would be broken if the stock generates a weekly close below $.77 cents or even below $.81. Simply stated, the bulls need to generate a green weekly close next Friday or face a breakdown of consequence. Last week's high at $.91 is now short-term pivotal resistance. Above that level there is no resistance until 1.08 (minor) is reached. Intraweek support is found at $.79 and pivotal at $.68. Probabilities favor the bulls this week as it is unlikely the stock price is heading further south.

FCEL made a new 6-week weekly closing low breaking the 5-week weekly close pattern of closes between 2.15 and 2.21. Nonetheless, the lower weekly close is not seen as a big negative since the stock also made a new 29-day intraweek low at 1.92 on Friday and then rallied to close in the green and on the highs of the day, suggesting that on Monday the stock will go above Friday's high at 2.09, meaning that Friday's 29-day breakdown will be negated. The breakaway gap at 1.89 remains unclosed and given the action on Friday, a runaway gap now has a high probability of being seen, perhaps as early as Monday. The stock closed in the middle of the week's trading range, suggesting a higher probability of going above last week's high at 2.25 than below last week's low at 1.92, given that the stock is presently in a midterm uptrend. Probabilities favor the bulls.

GS generated a red weekly close as well as a mini sell signal, having closed below the most recent low weekly close at 241.71. It was not a strong sell signal as the close at 241.71 was a minor low weekly close. For example, a weekly close below 238.53 would have been a true sell signal. The stock closed in the lower half of the week's trading range, suggesting that further downside below last week's low at 237.55 will be seen this week. The stock has been trading for the past 29 trading days between 235.19 and 247.74 (236.09 and 246.88 on a daily closing basis) and based on the negative reversal day seen on Friday, the probabilities now favor the bears for a breakdown rather than a breakout. Short-term intraweek pivotal support is found at 237.55 and midterm pivotal support is found at 235.19. Short-term pivotal resistance is found at 244.98 and midterm pivotal resistance is found at 247.74. Chart suggests that the bears now have the edge and that a drop down to $227-$230 is likely to be seen over the next couple of weeks.

MNK reported earnings this week and they disappointed causing the stock to make a new all-time low for the 8th time out of the last 14 weeks. In addition, several rating companies lowered their buy recommendation to hold (GS, MS for example), causing even more selling to occur. The stock closed in the lower half of the week's trading range and further downside below last week's low at 19.00 is expected to be seen. Nonetheless, the stock has now reached what should be considered a strong "psychological" support at $20 and with most rating companies still having upside objectives of as little as $24 to as much as $50, it is difficult to visualize the company heading much lower. The stock did bounce up $3.79 from the lows, suggesting that the selling interest below $20 waned. If the bears fail to follow through to the downside this week (below 19.00) it will be a sign that no further downside below the $20 level is to occur. The stock generated a negative reversal day on Friday and further downside below Friday's low at 21.12 is likely to be the first course of action for the week. If that occurs but the bears fail to take the stock below 19.00, a turnaround is likely to be seen the rest of the week. Minor resistance is likely to be found at Friday's high at 22.70 and then nothing until the gap area at 26.91. The chart suggests the probabilities favor the bears this week but the super low price suggests otherwise.

SLCA generated a new 18-week high and a close near the high of the week, suggesting further upside above last week's high at 36.55 will be seen this week. Nonetheless, the upside objective of reaching the 200-week MA, currently at 35.90 has now been reached, suggesting that further upside will be toiled and on a weekly closing basis limited. On an intraweek basis, minor to decent resistance is found between 37.14 and 37.48 and then decent and unlikely to be broken at this time at the $40 demilitarized zone. On an intraweek basis, support is now found at the gap area at 32.89 and on a daily closing basis at the previous high daily close at 33.20. The stock generated a negative reversal day on Friday as well as a close in the lower half of the day's trading range, suggesting the first course of action for the week will be to the downside below Friday's low at 35.08. A drop down to 34.39 is likely to be seen at the beginning of the week and then a rally above last week's high. Consideration should be given to taking profits above 37.00 and certainly if the stock gets up near the $40 level. Probabilities favor the bulls.