AMZN made a new 10-week high weekly close and closed near the highs of the week, suggesting further upside above last week's high at 995.75 will be seen this week. The close above the previous weekly closing high at 986.79 seen 4 weeks ago does negate the sell signal given the first week of August when the stock broke the weekly close support at 968.00. Nonetheless, it has been said by several fundamental analysts that the stock is fairly valued at $1000 and that it is unlikely to get much above that level at this time, meaning that the probabilities favor a sideways trading range as long as the indexes maintain themselves at these high prices. Minor intraweek resistance is found at 1000.00 and minor to perhaps decent between 1016.73 and 1017.00. Decent weekly close resistance is found at 1025.67. To the downside and on an intraweek basis, very minor support is found at 981.73, and then minor to perhaps decent at 960.60. Decent support is found at 931.75. The big question for this week is whether the resistance at 1000.00 will be broken or not. If not, then the traders are likely to push the stock down to close the gap that was created this past week between 967.79 and 969.64. If broken, a rally up to the 1016.50-1017.00 is likely to be seen. Overall, the chart suggests the stock will be in a sideways trading range between $950 and $1017. Probabilities favor the bulls this week.

ARNA made another new 2-year weekly closing high and closed near the highs of the week, suggesting further upside above last week's high at 26.16 will be seen this week. The stock still shows intra-week resistance at 27.86 but with no history of resistance there, the probabilities favor a run up to the 200-week MA, currently at 32.10, to be seen over the next 2-4 weeks, likely before the earnings report due out on November 6th. The stock did more idling with a very slight upward bias than rallying this past week and that is likely to continue this week as the bulls attempt to get up to 27.86 to see if there is still selling interest there. Support is now short-term pivotal at 24.41. The bulls do have the edge right now but upside gains are likely to be labored until 27.86 is broken.

CLF generated a negative reversal week, having made a new 3 week high but then closing in the red and on the lows of the week, suggesting further downside below last week's low at 7.05 will be seen this week. Earlier in the week, the bulls had been able to generate a buy signal but no follow through was seen and now the bears have the edge again. Likely pivotal intraweek support is found at 6.91/6.95 that if broken would suggest the recent low at 6.66 would be tested. The chart is suggesting that the stock may be presently in a sideways trading range between 6.90 and 8.00 as the traders await the earnings report on Friday October 20th. This is a short-term pivotal week in which the bulls must hold the stock above the 6.90 level and generate a positive reversal week next Friday.

ENG bulls failed to generate any further upside after closing above the pivotal 1.31 level a few weeks ago and now the stock having closed 2 weeks in a row below that level is back into a sideways trading range as the traders likely await the earnings report on November 8th. On a weekly closing basis, support is decent at 1.15 but the bulls have been able to keep the stock above a short-term minor to perhaps decent support at 1.23, which is the low daily close for the past 6 weeks. The stock closed on Tuesday, Wednesday and Thursday at 1.23 and at 1.24 on Friday, suggesting the traders are using that level as short-term pivotal support. Resistance on both the daily and weekly closing chart is firm at 1.31, meaning that the probabilities favor the stock trading on a daily closing basis in that very narrow trading range between 1.23 and 1.31. A daily close below that level would suggest a drop down to 1.15 and a close above that level would suggest a rally up to 1.40. Probabilities favor more of the same this week.

FCEL made a new 10-month intraweek and weekly closing high this past week after Oppenheimer initiated coverage with an outperform rating and a $4 objective. The stock closed in the upper half of the week's trading range suggesting further upside above last week's high at 2.49 will be seen this week. Very minor intraweek resistance is found at 3.35 and minor on a weekly closing basis at 3.10. Resistance of any consequence is not found until the $5 demilitarized zone is reached (4.70-5.30). Support is now found at the 2.00, which also happens to be where the gap (1.89-1.99) occurred after the upgrade. Probabilities favor the bulls and a run to the $4-$5 area.

GS has been on a run the past 2 weeks since the bulls were able to break above the 6-month sideways trading range between $213 and $230. The stock closed on Friday above a minor but short-term pivotal weekly close resistance at 244.90, meaning that on a weekly closing basis there is no resistance above until the $250-$253 level is reached. The stock closed near the highs of the week and further upside above last week's high at 247.07 is expected to be seen. On a possible negative note, the stock generated a negative reversal day on Friday, having made a new 6-month high and then closing in the red, suggesting the first course of business for the week may be to the downside. Minor support is found at 245.41 and then nothing until 239.05, meaning that if the stock goes below last week's low at 244.61 that another $5 to the downside would likely be seen. The company reports earnings on Tuesday October 17th (a week from next Tuesday). Probabilities favor the bulls and a run up to the $250 level.

MNK generated a negative reversal week, having made a new 4-week high and then closing in the red and near the lows of the week, suggesting further downside below last week's low at 35.34 will be seen this week. Likely pivotal intraweek support is found at 35.04 that if broken convincingly would suggest the all-time low at 33.61 would be tested and possibly broken, thus keeping the downtrend intact. By the same token, if 35.04 is seen but not broken and a positive reversal occurs from that level, it would be seen as the required retest of the all-time low and would give the bulls some new ammunition. With 4 of the rating companies still offering upside objectives of anywhere from $54-$65 dollars, the probabilities favor the stock getting down to $35 and turning around. Short-term pivotal resistance is found at 39.05 and more indicative and pivotal resistance is found at 41.70. Probabilities very slightly favor the bulls this week.

SLCA confirmed the negative reversal that was seen the previous week, having generated a lower intraweek low as well as another red weekly close. The stock closed in the lower half of the week's trading range and further downside below last week's low at 29.71 is expected to be seen this week. Nonetheless and on a possible positive note, the stock traded most of the week above the previous week's close and the bears needed a negative reversal day on Friday to generate the red weekly close, suggesting that there is a decent amount of buy interest at the $30 level. Intraweek support is found at 29.71 and then at 28.51. On a daily closing basis, support could be pivotal at 29.33, given that it was the 2-month daily close resistance that when broken generated the rally up to 33.42. Probabilities slightly favor the bulls even though the first course of action for the week is likely to be to the downside.