ADSK made a new all-time intraweek and weekly closing high on Friday and closed near the highs of the week, suggesting further upside above last week's high at 119.84 will be seen this week. In looking at the monthly chart, the probabilities of the index going higher this week by anywhere from $.55 cents to $4 are high given the pattern that has been seen the past 5 months where new intra-month highs have been made by $.57 cents and by $4.52 cents. Nonetheless, those new highs were followed by drops of anywhere from $11 to $14 and since the stock has not had a correction of consequence over the past 17 months and there is no support of consequence until 99.22, the new high will not get me to cover my short positions. Simply stated, I am holding the short positions for now and going with no stop loss. At some point over the next 10 days I am likely to add to my short positions and average up.

AMZN failed to follow through to the downside after the previous week's close near the lows of the week and the bulls were able to get above the previous week's high and close near the highs of the week, suggesting further upside above last week's high at 1008.44 will be seen this week. The stock made a new all-time high weekly close at 1002.94, meaning that on a weekly closing basis it has reached the major psychological resistance at the $1000 demilitarized zone. Fundamentally, the stock is more than fairly valued at this price, suggesting that it needs the overall market to go higher. On an intraweek basis, minor resistance is found at 1009.80, minor to decent between 1016.50 and 1017.00 and strong at 1083.31. Intraweek support is minor at 980.09 and then nothing until 960.60. The stock is showing a breakaway gap between 1040.18 and 1032.85 that is highly unlikely to be closed unless the earnings report that comes out Oct 26th is much better than expected. The probabilities suggest that the stock will get up intraweek to the $1016-$1017 level and then start heading back down. As far as the weekly close is concerned, the probabilities favor a red close next Friday. I am going with no stop loss at this time and expecting that by the following week the stock will be heading lower.

ARNA generated a negative reversal week, having made a new 13 week high and then going below the previous week's low and closing in the red and near the lows of the week, suggesting further downside below last week's low at 25.24 this week. The stock had generated 7 green weekly closes in a row and it is likely that the traders will be looking to build and/or confirm a new support base from which to try to get above the 22-month high at 27.84 as they seem to have failed to do that at this time. On an intraweek basis, there is minor support at 24.41. On a daily and weekly closing basis there is decent support between 24.58 and 24.60 that now seems to be the downside target. Probabilities favor the bears this week.

BHTG generated the 5th red weekly close in a row but the stock did get down to the $5 support level on Wednesday and found enough buying interest there to rally $1.29 (19% from the low) over the next 2 days, suggesting the buying interest at $5 is decent. The stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 5.01 than above last week's high at 6.50. By the same token, the bounce from the 5.01 level was strong enough to believe that the bears will have trouble getting the stock back down to that level, much less below it. Any rally above 6.50 would suggest the bulls are back in control and that further upside would be seen. There is minor support at 5.05 that if seen but it holds would give the bulls enough ammunition to rally above 6.50. Probabilities still slightly favor the bulls.

CLF generated a positive reversal week, having gone below the previous week's low and above the previous week's high and closing near the highs of the week, suggesting further upside above last week's high at 7.65 will be seen this week. A buy signal was given on both the daily and weekly chart, negating the recent downtrend that started 6 weeks ago when the stock got up to the 200-week MA for the third time in the last 10 months. Minor to perhaps decent intraweek resistance is found at 8.00 that if broken would suggest the stock would move up again to the 200-week MA, currently at 8.30. The MA line has been in place for over 5 years and a test of that line for the 4th time would suggest this time the line would be broken. Decent and pivotal resistance is found at 8.77 that is broken would confirm that the sideways trend that has been in place for the past year would now likely be a new uptrend with the February high at 12.37 as a viable mid-term objective. Support is now decent at 6.91 that if broken would be seen as a negative. Major support is now found at 5.56 that if broken would be a strong negative. Probabilities favor the bulls but the stock did gap up on Friday between 6.96 and 7.17 that will be a magnet unless another gap (considered a runaway gap) occurs first.

ENG generated another red weekly close (the 3rd in a row) and a new 6-week intraweek low but the bulls were able to rally the stock at the end of the week to close near the highs of the week, suggesting further upside above last week's high at 1.23 will be seen this week. If that occurs (likely) it would mean that last week's low at 1.14 would be the second successful retest of the 1.06 low seen 18 weeks ago. If that occurs, it will give the bulls some new ammunition to attempt to break the decent resistance at 1.44/1.46 that has been in place since May and get up to test the 200-week MA, currently at 1.63. It does seem that the bulls have now built a decent support base from which to start working toward higher prices. Support is now likely short-term pivotal at 1.14.

FCEL generated a red weekly close, suggesting that the traders will likely be doing some backing and filling while looking for where the support is now located. Weekly close support is now minor at 2.00 and minor to decent at 1.75. The stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher chance of going below last week's low at 2.01 than above last week's high at 2.37. Daily chart suggests that the stock will likely trade lower this week with 1.95-2.00 as the downside objective. Stock shows what could be a breakaway gap between 1.86 and 1.99 that if closed would take some (but not much) strength from the bulls but if not closed and another gap occurs (runaway gap) would give additional strength to the bulls. Probabilities favor backing and filling this week with a very slight bearish bias.

GS generated a red weekly close that effectively put the brakes on the recent uptrend and made the previous week's close at 246.02 into the required/needed retest of the all-time high weekly close at 252.89. The stock closed near the lows of the week, suggesting further downside below last week's low at 236.84 will be seen this week. Intraweek support below is minor at 236.78 and then minor to perhaps decent at 235.37. The stock is showing a gap below between 231.44 and 232.91 that is likely to be tested if the support at 235.37 is broken. Nonetheless, the company reports earnings on Tuesday morning and that could turn the stock around if better than expected. Minor resistance is found at 240.79 that if broken would suggest the stock would rally to the $244-$245 area. The last 3 earnings reports generated upside movement. The stock has generated 6 red daily closes in a row and consideration should be given to taking profits on Monday before the earnings report comes out.

MNK generated a new all-time intraweek and weekly closing low on Friday and closed on the lows of the week, suggesting further downside below last week's low at 33.19 will be seen this week. There is no support below except psychological at $30. The stock gapped down 8 trading days ago between 37.15 and 36.45 and if another gap is made on Monday (very possible) it will give the bears additional ammunition to take the stock down immediately, likely to the $30 level. Minor but perhaps short-term pivotal resistance is found 36.38. Probabilities strongly favor the bears.

SLCA generated the 3rd red weekly close in a row and closed on the lows of the week, suggesting further downside below last week's low at 28.32 will be seen this week. Minor to perhaps decent intraweek support is found at 27.64 which was the low seen in March 2015 when a scenario very similar to what is happening now occurred, with the stock in a recovery rally and a 4-week trading range between 34.20 and 27.64 occurred. With the recent high being 33.72, it does suggest that a drop down to the mid to perhaps low 27's will be seen before the uptrend resumes. In 20.15, the stock resumed the uptrend after 27.64 was seen and got up to 40.17 4 weeks later. Recent intraweek support is found at 26.88 and at 26.35 that if broken would be seen as a decent negative. Probabilities favor the bears this week for a drop down to the mid to low 27's, followed by a positive reversal and a green weekly close next Friday.