The following update comments on held stocks are made based on the chart action seen in each stock up until Friday of last week. Nonetheless, the Tax Reform bill that was passed is a potential "monkey wrench" for some stocks, meaning that the comments this week need to be taken with a "grain of salt" as it is unknown to me at this time as to which stocks will react and which won't.

AMZN generated a negative reversal week, having made a new all-time intraweek high at 1213.41 and the closing in the red and near the lows of the week, suggesting further downside below last week's low at 1145.19 will be seen this week. On Friday, the stock also generated a negative reversal day as well as a close near the lows of the day, suggesting the first course of action for the week will be to the downside and below Friday's low at 1152.00. If that does occur, Friday's high at 1179.65 will become resistance. If it does not happen, then resistance is at the all-time high at 1213.41. Below 1145.91 there is no support of any consequence until 1086.87 is reached. Probabilities favor the bears this week.

ARNA generated another new 27 month intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 31.75 is likely to be seen this week. Nonetheless, one of the main objectives was reached this week, given that the stock got up to and closed slightly above the 200-week MA, currently at 30.60 (closed at 30.75), and as such the action this coming week is likely to be indicative as to whether the stock is ready to break the downtrend the stock has been on since May 2014 or a small correction to occur. The MA had not been reached and much less broken for the past 34 months and broken only once for 1 week for the past 40 months, meaning that the close next Friday will likely be indicative of the short-term outlook for the stock. Normally, a long term trend line is not broken the first time around without some fundamental catalyst. On an intraweek basis, there is no resistance above until 34.70 is reached, meaning that the stock could continue to run to the upside during the week before any chart selling interest is seen. Nonetheless, and based exclusively on the chart, the probabilities presently favor the stock closing in the red next Friday. Short-term support is now found at last week's low at 28.17. A break of that level this week will give the bears the short-term edge. Probabilities favor the bulls for the first few days of the week but toward the end of the week the action should reflect the midterm views of the traders, which suggest a correction from this level is likely to occur.

BHTG generated follow through to the upside off of last week's close near the highs of the week, as well as a green close, suggesting that the worst of the recent downtrend might be over. In addition, the stock generated a positive reversal day on Friday, having gone below Thursday's low and then closing above Thursday's high, meaning that if the stock goes above Friday's high at 5.12 on Monday that a successful retest of the recent low at 4.55 will have occurred on the daily chart. Short-term pivotal resistance is found at 5.48 that if broken would likely take the stock up to the 100-day MA, currently at 5.80. A daily close above 5.15 would generate a buy signal. On the weekly chart though, the stock would need to get above 6.30 to generate a buy signal. Support is now pivotal at 4.55. Probabilities favor the bulls.

CAT made a new all-time intraweek and weekly closing high and closed near the highs of the week, suggesting further upside above last week's high at 142.40 will be seen this week. Short-term support is now found at 136.89 that if broken would strongly suggest a top has been built. Probabilities favor the bulls, especially if the indexes continue higher (likely). The stop loss mentioned was triggered last week and unless there is some negative action in the stock, covering shorts should be considered.

CLF made a new 6-week high and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 7.00 will be seen this week. Minor resistance is found at 7.20 and minor to perhaps decent between 7.39 and 7.42, all of which are strengthened by the 200-day MA that is currently at 7.30. Above that level there is decent and pivotal resistance at 7.73 that includes the 200-week MA, currently at 7.75. Minor support is found at 6.66 and pivotal as 6.32. Probabilities favor the bulls this week for a rally up to at least the 7.30 level.

ENG has now traded for 19 days between .76 and .89 with 80% of it being between .81 and .83, all based on a daily closing basis. What this means is that neither the bears nor the bulls have any kind of an edge right now. The stock did generate a positive reversal day on Friday with an intraday low at .75 and a high at .90, meaning that whichever of those 2 levels get broken next, is likely to be the direction the stock heads to. Friday's low at .75 will be seen as the needed/required retest of the 22-month low at .75, meaning that a rally above .90 would be a strong sign that a bottom is now in place. Probabilities slightly favor the bulls.

FCEL made a new 12-day high at 1.93 but the bulls were unable to close the stock in the upper half of the week's trading range, leaving questions unanswered. Nonetheless, the reason for the rally up to 1.93 was an announcement of a multi-year deal with Toyota that should give the bulls' additional ammunition to restart the uptrend. Chart-wise, neither the bulls nor the bears accomplished anything of consequence this past week, at least on a weekly closing basis, meaning that everything remains as was stated the previous week. Resistance is now found at 1.97 and pivotal on a daily closing basis at 2.09. Support is now found between 1.56 and 1.60. Probabilities favor the bulls this week.

GS generated a positive reversal week given the benefits to the financial industry that the Tax Reform bill will bring. The stock closed near the highs of the week and further upside above last week's high at 250.79 is likely to be seen. The stock generated a new 4-month buy signal that is likely to push the stock up to test the all-time high weekly close at 252.89. It is interesting to note that on Thursday with the monthly close, the stock closed at 247.64, meaning that the previous all-time monthly close from October 2007 at 247.92 was not broken, meaning that if the stock generates a red monthly close at the end of December, a major resistance level will have been built in conjunction with the all-time high monthly close seen in February of this year at 248.06. The level to the downside to watch this week is 246.88 as a daily close below that level any day this week would give a failure signal that based on the passage of the Tax Reform bill would be a clear failure signal that would likely generate strong new selling. Resistance is found between last week's high at 250.79 and 251.76. A break of that area would suggest the all-time high at 255.25 will be tested. Any rally above 250.79 should give reason to consider covering the short positions. Probabilities favor the bulls.

MNK made a new 4-week high this past week but the bulls were unable to generate confirmation on the weekly closing chart, having closed below the previous high weekly close at 22.38 and slightly in the lower half of the week's trading range. Nonetheless, this is now the 4th week in a row that the bears have not been able to generate any follow through to the downside, suggesting there is a slightly higher probability of going higher than lower. Intraweek resistance is found at 23.00 and intraweek support at 20.25. Whichever one is broken will likely generate follow through of some consequence. Above 23.00 there is no resistance until 26.91. Probabilities slightly favor the bulls.

SLCA made a new 4 week low and in the process closed the gap at 31.69 that was likely to be closed since it was not generated by a fundamental catalyst. Nonetheless, once the gap was closed the stock rallied to close near the highs of the week, suggesting further upside above last week's high at 34.17 will be seen this week. If that occurs, the probabilities favor the bulls taking the stock back up to the 200-week MA, currently at 36.00, and trying to break the line and resume the midterm uptrend as well as signal an end to the long-term downtrend. Oil got some positive news this week in the form of confirmation by OPEC that production cuts will continue to the upheld for another 3 months. As such, oil is likely to go higher and also likely to support further upside in the stock. Pivotal resistance is found at 36.55 that if broken would likely take the stock up to 37.14 and if that resistance level is broken, a rally up to the $40 level would likely be seen. Much depends on what oil does at the $62 level. Chart suggests that oil has a decent chance of continuing higher up to the $70-$75 level and if that occurs, the stock is likely to get up to the $40 level. Nonetheless, the chart of the stock suggests that somewhere between $36 and $40 a correction of some consequence will occur with $30 as the downside objective. Probabilities favor the bulls this week.