AMZN extended its rally this past week, having gone above the previous week's high and closing in the green. Nonetheless, the index made the new all-time high at 1139.90 on Monday and then proceeded to trade sideways the rest of the week, having traded between a low of 1121.63 and 1138.80, meaning that the new high did not stimulate any new buying interest. The stock generated a negative reversal day on Friday, having gone above Thursday's high and then closing below Thursday's low, suggesting the first course of action for the week will be to the downside. In addition, the stock closed slightly in the lower half of the week's trading range, suggesting that last week's low at 1121.63 will be broken this week. Below 1121.63 there is minor support at 1115.77 and then nothing until the 2-week low at 1086.87 is reached. Since the earnings report came out 5 weeks ago, each week has shown a smaller trading range than the week before and this is the first week where the bulls failed to close the stock in the upper half of the week's trading range, strongly suggesting that this will be a red week with some form of correction and/or retest of the breakout level at 1052.80 to be seen over the next couple of weeks. Probabilities favor the bears this week.

ARNA generated a second red close week but on an intraweek basis there was no follow through to the downside below the previous week's low and though the stock closed in the red it closed only 20 points below the previous week's close and near the highs of the week, suggesting further upside above last week's high at 26.85 will be seen this week. It is likely that the traders will be testing the recent 23-month high at 28.97 this week in an attempt to see if the less than expected earnings report was a game changer or simply a small bump in the road (probabilities favor the latter). Resistance is found between 27.86 and 28.28 and the probabilities favor that area being reached this week. What the stock does in that area and how it closes next Friday will likely determine what the traders will do the following week after Thanksgiving. Support is found between 24.33 and 24.87 that if broken would be a negative sign. Probabilities 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 5.00 will be seen this week. Nonetheless, the bears are having a tough time pushing the stock lower, given that 5.25 was reached 8 trading days ago and the bears have only been able to engender a 25 point drop since then and have not been able to break the spike low at 5.01 that was made 6 weeks ago. The stock has generated 11 red weekly closes in the past 15 weeks and yet the bears have been unable to make a negative statement as the stock has not broken any support of consequence and is still trading above the breakout level at 4.75 that go broken to the upside the last week of July. To the upside and on a daily closing basis, resistance is found at 5.39 and pivotal at 5.80. To the downside and on a daily closing basis, very minor support is found at 5.08 and strong as well as pivotal at 4.78. Probabilities slightly favor the bears this week but the action suggests the stock is likely to turn around soon.

CAT generated the 3rd red weekly close in a row but the bears have only been able to gain a $.50 cent profit (.004%) over that period of time, suggesting the buying interest remains decent. Nonetheless, the lower low and lower high seen last week makes the previous week's high at 138.90 into a successful retest of the all-time high at 140.43, meaning that the chart is now fulfilled as far as being open for a correction of consequence. 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 138.12 than below last week's low at 133.81. Nonetheless, this is a DOW stock and will likely move in the direction of the index, which is supposed to move lower this week. Intraweek support is found at last week's low at 133.81 and then nothing until minor support is found at 129.40. A break below 133.81 would likely close the runaway gap at 132.35 which in turn would target the breakaway gap between 121.57 and 132.85. It is important to note though, that since April the stock has generated 3 breakaway/runaway gap formations and none have been closed, meaning the stock is strong and only if a correction of consequence is to be seen in the index market will the bears have any success pushing down. By the same token, the stock now shows 3 successful retests of the all-time high and none of that happened previously when the previous breakaway/runaway gap formations occurred, suggesting a correction is most likely. Likely pivotal resistance is found at 137.41 that if broken would suggest a new attempt at the all-time highs is to be seen. Probabilities slightly favor the bears. As such, adding of short positions this week should be considered.

CLF generated a positive reversal week, having made a new 12-month low and then closing in the green and on the highs of the day, suggesting further upside above last week's high at 6.30 will be seen this week. More importantly, the green weekly close makes last week's close at 6.00 into a successful retest of a previous 2-point uptrend line (now 3 points) that started in October, suggesting that no further downside is likely to be seen. Minor to perhaps decent but certainly short-term pivotal resistance is found at 6.41 that if broken would open the door for a rally up to at least 6.95 where minor resistance in once again found. Nonetheless, a break above 6.41 would suggest a rally up to the 200-day MA, currently at 7.50, would likely occur. Pivotal support is now found at last week's low at 5.60 that if broken would likely push the stock down to 5.00 and damage the longer term chart. Probabilities favor the bulls.

ENG made a new 22-month intraweek low for the second week in a row and closed near the lows of the week, suggesting further downside below last week's low at .77 will be seen this week. Nonetheless, the first course of action for the week is likely to be to the upside, given that the stock closed near the highs of the day on Friday and a rally above Friday's high at .82 is likely to be seen on Monday. Short-term pivotal resistance is found at .88 that if broken would likely cause the previous low daily close at 1.08 to be targeted. The bears have had a tough time generating further downside as they have only accomplished a $.03 cent move (3.5%) below the low at $.80 seen after the earnings report came out. The stock is trading at a pivotal weekly close support level between .77 and .81 that requires a green weekly close next Friday. It also needs to be mentioned that this stock should move in conjunction to oil prices and with that market heading higher, it does give some ammunition to the bulls to turn this downtrend around.

FCEL generated a strong round of selling and/or profit-taking this past week after the stock closed the breakaway gap at 1.89 and broke convincingly below the pivotal 2.00 level. The stock lost 25% in value having dropped from the previous week's close at 2.08 to close on Friday at 1.58. The stock closed near the lows of the week and further downside below last week's low at 1.50 is expected to be seen this week. Nonetheless, the drop was mostly technical in nature given that there wasn't any negative news this week and only when the gap was closed and the 2.00 level broken was the selling interest seen. Technically, the downside objective of the break had to be the important 200-day MA line, currently at 1.50, that was broken convincingly to the upside in September and that was a line that had not been broken for 3 years, likely meaning that the once the break of support occurred that was the target. Evidently if the MA line holds up, the buying interest will once again pick up, especially since there were no downgrades given this past week and most of those rating companies still have a $4-$5 objective, suggesting that the drop was a combination of stop loss selling, profit taking, and reaching technical chart objectives. By the same token, this coming week the bulls must negate some of the sell and failure signals given (such as the break of the previous breakout level at 1.75) and rally to close next Friday above at least 1.75. If that occurs, buying interest will likely come back. Probabilities favor the bulls.

GS made a new 8-week low but bounced up when the stock got down near to the breakaway gap between 231.44 and 232.91 with a low at 233.55 to close slightly in the upper half of the week's trading range, suggesting a slightly higher probability of going above last week's high at 240.90 than below last week's low at 233.55. Minor but short-term pivotal resistance is found at 240.90. Above that level, there is minor resistance at 243.32 and then nothing until the 244.98 level. Decent resistance is found at 246.50. To the downside, there is minor to perhaps decent support at 235.19 and then at last week's low at 233.55. Probabilities slightly favor the bulls this week but the 8-week low made last week does suggest that the bulls are beginning to lose their edge.

MNK did not follow through to the downside this past week after the big drop due seen the previous week due to the worse than expected earnings report, having generated an inside week and a green weekly close and near the highs of the week, suggesting further upside above last week's high at 22.58 will be seen this week. The bears have been powerless to push the stock lower, below the psychological support at $20, having traded above that level for the past 8 days. Minor but short-term pivotal resistance is found at 22.79 and then nothing until the gap at 26.91 is reached. Minor but likely short-term pivotal support is found at 20.81. Probabilities strongly favor the bulls this week.

SLCA failed to follow through to the upside this past week after the previous week's close near the highs of the week. The stock corrected 11% during the week from the previous week's close but bounced at the end of the week to close in the middle of the week's trading range, suggesting a 50-50 chance of going above last week's high at 36.45 than below last week's low at 32.42. Nonetheless, the probabilities favor the bulls since both the stock and oil are in an uptrend. The 200-week MA, currently at 35.90, remains a large stumbling block on a weekly closing basis and that was proven with the successful retest of that line 2 weeks ago with the close at 35.52 and the red close this past week. Nonetheless, oil is expected to continue higher, likely giving the bulls the edge to break the line this week, at least on an intraweek basis. The bears tried to close the breakaway gap at 31.86 with the drop down to 32.42 this past week but failed. As such, 32.42 is now considered short-term pivotal support. Probabilities slightly favor the bulls this week.