AMZN made a new all-time intraweek and weekly closing high and closed on the highs of the week, suggesting further upside above last week's high at 1229.14 will be seen this week. It is interesting to note that on Friday the stock was $244 dollars above the 50-week MA and that is the largest run above the MA line since the rally began in January 2015. During this run, the stock has generated 5 peaks above the MA line and they have been $115, $212, $174, $205, and $226, meaning that from only that point of view, the stock should be starting to head lower soon. From those peaks, corrections of at least 14% and all the way up to 32% were seen. Using the minimum correction, a drop back down to $1056 can occur. Short-term pivotal support is found at 1160.55. Nonetheless, a daily close below 1195.83 would give a failure signal, suggesting that a correction might be starting.

ARNA generated a strong spike up rally this past week and made a new 30-month high at 41.92, likely based on the upgrade from Wells Fargo that gave a $53 objective. The stock closed near the highs of the week and further upside above 41.92 is expected to be seen this week. To the upside, there is no intraweek resistance of consequence until 47.40 is reached. Above that level, there is a bit stronger resistance at 49.05 and then decent to perhaps strong at 51.20. On a weekly closing basis though, there are decent and multiple resistances between 45.30 and 46.30 that will be difficult to break at present. To the downside and on an intraweek basis, support is minor to perhaps decent between 38.20 and 39.00 and decent to perhaps strong between 32.60 and 33.00. On a weekly closing basis, support is now strong at 34.20. Probabilities favor the bulls.

BHTG made a new 5-week spike up high that negated all the selling interest seen during that period of time. The stock generated a buy signal on the daily closing chart, having generated a confirmed close above the previous high daily close at 5.15. In addition, the stock closed above the 200-day MA on Tuesday, currently at 4.60, and confirmed the break with 3 additional closes above the line, suggesting that the downtrend seen since August is now over. On a possibly negative note, the bulls were unable to break above the minor to perhaps decent intraweek resistance at 5.48 that was a spike high seen on November 27th. Then again, the stock closed near the highs of the week and further upside above 5.48 is expected to be seen and if that occurs, further and stronger confirmation of a turn-around will be given. Next level of resistance above 5.48 will be the 5.80-5.90 level where a minor intraweek high is found at 5.90 that is further strengthened by the 100-day MA, currently at 5.80. Above that level, there is further and somewhat pivotal resistance at 6.30 that if broken would suggest the previous uptrend has resumed. Minor to perhaps decent intraweek support is found at 5.01 and then important and pivotal support is found between 4.55 and 4.75. Probabilities favor the bulls.

CLF broke above the 200-week MA, currently at 7.40, for the second time in the last 5+ years. The stock closed on the highs of the week and further upside above last week's high at 8.13 is expected to be seen this week. Nonetheless, it must be mentioned that the stock broke above the 200-week MA in February for 2 weeks in a row but then failed to follow through and caused the stock to drop all the way down to 5.56 16-weeks later. As such, this 2nd breakout needs further confirmation before the bulls get aboard in a strong way. A break above the spike high seen in September at 8.77 would be confirmation that the previous 13-month uptrend seen between January 2016 and February 2017 has resumed. Such a resumption of the uptrend would offer a $14-$15 objective. To the downside and on an intraweek basis, minor support is found at 7.55 and at 7.20 and then pivotal at 6.95, which is an area that also includes the 200-day MA. The bulls were able to get above the minor to decent resistance at 8.00, meaning that there is no resistance above until 8.55-8.77 and suggesting that the breakout is real. By the same token, the bulls are committed to getting above 8.77 this week or face some new selling interest. Probabilities favor the bulls.

ENG generated a second in a row negative reversal, having made a 5-week high but then closing in the red and on the lows of the week, suggesting further downside below last week's low at .84 will be seen this week. Nonetheless, the same thing happened last week and no follow through to the downside was seen, meaning that the bears are no longer in total control of the stocks. The stock is now showing a double bottom on the intraweek chart at .73 which has not yet been tested successfully and it is likely that this week's move below .84 will be such a needed/required retest. Minor to decent intraweek support is found at .80 that is likely to be seen but not broken. The stock has now spent 2 months trading in this area between .73 and .90, suggesting that a strong bottom may have been built and from which a concerted rally can occur. Pivotal resistance is found at 1.00 that if broken would be a sign that the worst of the 10-month downtrend is over. On a longer term positive note, the bears were unable to break the previous and major intraweek low at .68 cents, meaning that the minor but evident 56-month uptrend remains unbroken. Probabilities favor the bears this week for a drop down to the .80 level but thereafter the probabilities favor the bulls.

FCEL generated an uneventful week, trading slightly above the previous week's high and generating a small green weekly close but near the lows of the week, leaving the traders without any new information about what the stock will do this week. Nonetheless, this coming week is likely to be short-term decisive, given that the company reports earnings on Thursday before the open and earnings are expected to be better than last year (-$.20 vs last year's -$.41). If that occurs, it will give the bulls new ammunition to shoot for the upgrade objective of $3 that was given by Cowen % Co. on August 13th. Pivotal and decent intraweek support is found at 1.50 that is further strengthened by the 200-day MA that is currently at 1.55. It is likely that the short-term objective of the traders is to once again test that line and if it holds again (as it did on November 15th and 20th) that a rush of new buying interest will occur and that an uptrend of consequence begin. Pivotal resistance is presently found at 1.93 that if broken would suggest the bulls are back in control.

GS generated an uneventful week even though a green weekly close was generated. The green close was by only $.76 cents but the stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 253.22 will be seen this week. On a week where the indexes spiked up, the action in the stock had to be disappointing. On a possible positive note for the bears, the stock did get above the previous week's high, meaning that if the stock goes below last week's low this week that a needed/required retest of the all-time high at 262.13 will have occurred. This week the earnings reports on financial companies begin with JPM and WFC reporting on Friday. The company does not report until the following Wednesday but may take some direction from the earnings reports this week. Pivotal support is found at 252.91 that not only represents the low seen the last 16 trading days but also represents the previous all-time daily and weekly closing high at 252.89. It is unlikely that level will be broken this week, suggesting this coming week the stock is likely to trade sideways with perhaps a slight bearish tone. A rally above last week's high at 259.72 would give the bulls the edge. Probabilities favor the bears this week but only for a slight drop.

MNK generated an uneventful inside week even though a green weekly close occurred. The stock closed near the lows of the week and further downside below last week's low at 22.61 is expected to be seen this week. On an intraweek basis, there is no support below until 20.93 is reached but if that occurs much of the recent bull support would be negated. On a daily closing basis though, there is support at 22.45, which was the level where the recent mini breakout to the upside occurred, meaning that if the bulls want to keep the short-term rally alive, they need to keep the stock closing above that level. A daily close below 21.25 would be a decent negative sign. Intraweek resistance is now found at 24.80 that if broken would suggest the gap up at 26.91 would be tested. The probabilities very slightly favor the bulls but the inability to take the stock further to the upside last week was disappointing.