ARNA followed through to the upside off of the previous week's positive reversal to close in the green and in the upper half of the week's trading range, suggesting further upside above last week's high at 38.95 will be seen this week. Nonetheless, the stock did generate a negative reversal day on Friday, suggesting the first course of action for the week will be to the downside and below Friday's low at 37.75. Intraday support is found at the 200 10-minute MA, currently at 37.35 and then a bit stronger at 36.65. A drop below Friday's low will be seen as the required/needed retest of the recent low at 33.03, which has not yet occurred. To the upside, there is minor intraday resistance at 38.95, at 39.54, at 39.83 and then a bit stronger at 40.94. Above that level, there is minor to perhaps decent resistance at the recent high at 41.92. Probabilities favor the bulls this week after a small down move at the beginning of the week. Possible trading range for the week could be 37.35 to 40.94 or 36.65 to 39.94. Traders will likely await the earnings report due out on February 6th before committing to further upside.

BHTG generated a red week and a close on the lows of the week, suggesting further downside below last week's low at 4.90 will be seen this week. The intraweek support at 5.01 has been broken, meaning that the stock is likely to get down to the next level of support at 4.75 this week. It is important to note that the 200-day MA is currently at 4.73 and given the flagpole rally and bull flag built over the past 4 weeks that a drop to that line and that support is likely to be seen but not likely to be broken. Below 4.75 there is support at 4.55 but a drop down to that level would slightly weaken the chart. Nonetheless, the fundamental picture for the stock remains positive and the chart picture is leaning to the bull side, meaning that adding positions between 4.55 and 4.76 should be considered.

CCJ generated another red week with a close on the lows of the week, suggesting further downside below last week's low at 9.19 will be seen this week. Nonetheless, it was an uneventful inside week that was more about chart building and backing and filling than about direction. The bears remains with a slight edge as the stock remains below the 200-day MA, currently at 9.73. A short-term sell signal was given this week as the stock closed below the 3 most recent low daily closes, meaning that the recent 15-week uptrend has been interrupted, suggesting the traders will wait for the earnings report that comes out on February 8th before attempting once more to break the 200-day MA, currently at 9.70. Intraweek support of consequence is found between 8.90 and 8.95, daily close support of consequence is found between 9.03 and 9.10 and weekly close support is found at 9.10 and at 9.23, meaning that the probabilities of the stock generating a drop down to 8.95 early in the week but then closing above all of these levels and in the green next Friday is high. Expect another backing and filling and chart building week as the traders await the earnings report.

CLF generated a negative reversal week of some consequence as a new 10-month intraweek high was made after the earnings report came out but then the stock reversed to close in the red below the previous week's low and on the lows of the week, suggesting further downside below last week's low at 7.60 will be seen this week. In addition, a failure signal was given on Friday when the stock closed below the previous high weekly close at 8.48. The negative reversal off of what seems to be a better than expected earnings report does suggest that the 200-week MA, currently at 7.25, which was broken for the second time in 5+ years the first week of January will be retested before the traders considered anything else. The first time the line was broken was in February of last year and 2 weeks later a failure signal was given with a close below the line. Subsequently, the stock went on a 15-week downtrend that took the stock from 12.37 to 5.61. As such, next Friday's close (above or below the line) will be indicative of what to expect of the stock for the next few months. A close above the line, especially if above Friday's close at 7.63, would be a bullish statement of consequence. A close near the line but above it would leave the door open for a positive reversal the following week. A close below the line would be a negative statement. The probabilities slightly favor the bulls simply because the fundamental picture seems to be better than before, the stock has been in sideways trend for the past year with the bulls accomplishing more than the bears and all of this occurring after the stock has given clear signals that the previous downtrend is over. As such, the probabilities favor the stock getting down to 7.25 this week but then turning around and giving the bulls some chart ammunition from which to take the stock at least back up to the 12.37 high seen last year, if not start a new uptrend.

ENG generated a negative week as it failed to go above the previous week's high in spite of the close the previous week in the upper half of the week's trading range, suggesting that the bulls are not yet ready to gain back some measure of control. By the same token, the action seen last week mimics the action seen the past 6 weeks that suggests that a bottom is and has been in the building process, with a slight bias to the bulls. The stock did get down on Friday to the intraweek support at .81 and bounced up to close near the highs of the day, suggesting the first course of action for the week will be to the upside and above Friday's high at .87. If that occurs, the support at .81 will be further strengthened. Resistance is found at .92, minor at .94 and minor to perhaps decent at the recent high at .96. Further and likely minor to decent is found at 1.00. The probabilities favor the stock continuing to trade with a very slight bullish bias and a 1.00 objective as the traders wait for the earnings report that comes out Friday February 9th.

FCEL made a new 13-day low and closed on the lows of the week, suggesting further downside below last week's low at 1.70 will be seen this week. The action seen was disappointing inasmuch as the stock is now one small step away from giving sell signals on both the daily and weekly closing chart. A daily close below 1.69 any day this week would generate a sell signal and a close below 1.70 next Friday would generate a sell signal on the weekly closing chart. In addition, an intraweek break below 1.66 would also generate a sell signal, meaning that almost any follow through to the downside this coming week would weaken the chart. This is especially worrisome to the bulls coming on the heels of a better than expected earnings report a couple of weeks ago. If an intraweek break of 1.66 is seen, the 1.58 level on a weekly closing basis becomes pivotal as that is where the 200-week MA is currently at. By the same token, if 1.66 is broken it would negate the uptrend and likely put the stock back into a sideways trend between 1.58 and 2.10 for at least the next 3 months. Minor but possibly short-term pivotal resistance is found at Friday's high at 1.83. A rally above that level, would negate Friday's weakness. Probabilities slightly favor the bears.

GCI technically generated a negative reversal week, having gone above the previous week's high by 2 points and then closing in the red. Nonetheless, the bulls were able to close the stock in the upper half of the week's trading range, suggesting that the week was more uneventful than indicative. For the past 9 weeks, the bulls have had a slight edge but they have only been able to rally the stock 7% (68 points) over that period of time, meaning that the bulls likely require some positive fundamental news to get to the next level. Weekly close resistance is found at 12.40 that if broken would be the chart signal that would give the bulls the ammunition to take the stock higher. The stock reports earnings on February 8th. Short-term pivotal support remains at 10.90. Probabilities at this time continue to favor the bulls but then only for a rally and weekly close up at 12.40.

LVS made a new 44-month intraweek high and a new 42-month weekly closing high last week but the bulls were unable to maintain the gain in spite of a better than expected earnings report that came out on Wednesday after the close, having closed on Friday in the lower half of the week's trading range, suggesting further downside below last week's low at 74.52 will likely be seen this week. The stock did generate a positive reversal day on Friday, suggesting the first course of business for the week will be to the upside and above Friday's high at 76.08. The better than expected earnings report did generate several upgrades (Bank of America with an $85 target and Stiffel Nicolau with an $88 target) but JP Morgan maintained its neutral rating with a $72 target. The negative reaction to the earnings report does suggest some downside will be seen this week with the likely objective of testing and probably closing the weekly chart breakaway gap between 71.24 and 72.06, especially given that the runaway gap between 75.00 and 75.15 that was seen at the beginning of the week was closed after the earnings report came out. Decent intraweek support is found at 69.15 that is highly unlikely to be broken due to the bullish fundamental picture but a drop down to that level is a possibility. The short trade given the bullish fundamentals and rallying stock index market does make this a low probability short trade, meaning a close watch on the action needs to be maintained. Stop loss is presently at 78.67 but a break above the intraday resistance at 76.61 could be a sign that the stock will continue higher. Probabilities very slightly favor the bears.

MNK continued the now 5-week short-term downtrend, having generated another red weekly close and in the lower half of the week's trading range, suggesting further downside below last week's low at 20.56 will be seen this week. The stock did generate a new all-time low weekly close on Friday, having closed below the previous one at 21.22 that was made12 weeks ago. By the same token and with the all-time intraweek low being at 19.00, the new weekly closing low is not yet all that indicative, especially considering that the $20 level is a strong psychological support. Minor but likely short-term pivotal resistance is now found at 22.15 that if broken would suggest the worst of the downtrend is over. Probabilities favor the bears this week for a drop down to the $20 demilitarized zone. Nonetheless, there is a fair chance that the stock will reverse at the end of the week.

RENN generated an unconvincing positive reversal week, having made a new 19-week low and then closing in the green but near the lows of the week, suggesting further downside below last week's low at 10.42 will be seen this week. Nonetheless, the bulls were able to push the stock up to 10.83, suggesting that the weakness being seen is likely short-term and limited. The stock does have decent psychological and historical support at the $10 demilitarized zone suggesting that is the downside objective of this short-term downtrend. There is pivotal support at 9.81 that if broken would suggest the reason for the rally to 18.70 has disappeared (unlikely). To the upside, there is resistance at 11.13, at 11.55 and at 11.98. The resistance at 11.98 is pivotal. Chart suggest that the stock will be in a trading range between 10.30 and 11.98 until the next earnings report on March 6th comes out.

WDC reported better than expected earnings this week and though the initial reaction to the report was slightly negative, by the end of the week the stock generated a new 8-week intraweek and weekly closing high and closed on the highs of the week's, suggesting further upside above last week's high at 89.84 will be seen this week. On another positive note, the low on Friday was at the 200-day MA, currently at 86.75, and if the stock gets above Friday's high on Monday that low will become the required/needed retest of the breakout of that line. In addition and probably more importantly, the stock closed the weekly gap from November at 89.83, suggesting the daily gap at 92.25 will be closed this week as well. To the upside, there is quite a bit of resistance starting at 90.33 and up to 92.29 that was built repeatedly over the past 9 months, meaning that once the stock closes the gap at 92.25, serious consideration should be given to taking profits. Pivotal support is now likely to be found at Friday's low at 86.71. Probabilities favor the bulls.