ARNA generated a positive reversal week, having made a new 7-week low and then closing in the green and in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 45.20 than below last week's low at 41.50. Nonetheless, the close was only $.12 cents above last week's close and only 25 points above the midpoint of the week's trading range, meaning it was not a convincing weekly close and that there are still unanswered questions and doubts as to whether the stock has found its correction low. One possibility is that the stock may trade sideways for the next week or two between the 100-day MA, currently at 41.83, and the intraweek resistance at 45.85. A rally above 45.85 will likely bring new buying interest and a drop below 41.30 would likely bring about a drop down to the $40 level. Probabilities very slightly favor the bulls this week.

CLF failed to confirm the previous week's breakout, having given a failure signal by closing below the previous weekly closing high at 8.68 from where the breakout occurred. The stock closed in the lower half of the week's trading range, suggesting a higher probability of going below last week's low at 8.13 than above last week's high at 8.92. Nonetheless, and on a possible positive note, the stock now shows a double low at 8.11/8.13 that has been confirmed, given that the second low was made on Thursday and the stock went above Thursday's high on Friday. As such, a move below last week's low would be considered a negative sign. The stock is still showing a bullish flag formation on the daily chart that if broken to the upside (above 9.14) would offer a 10.13 objective. Given the action seen since March, the probabilities favor the bulls. Nonetheless, given the action seen last week, the door is open for the bears to make a statement. Key this week will be the bulls keeping the stock above the 8.21 level. If they can do that, the chances of the bears making a statement will drop precipitously.

ENG generated a positive reversal week, having made a new 4-week low and then going above the previous week's high and closing in the green and in the upper half of the week's trading range. The week's low at 1.10 was a successful retest of that minor to decent intraweek support level, suggesting that once again the bulls are set to attempt a breakout above the decent weekly close resistance level at 1.40. The stock is now showing 2 successful retests of the gap between .95 and 1.02 that occurred after the last earnings report, suggesting that sometime over the next week or two a runaway gap could occur, likely above the 1.40 level. Support is now short-term pivotal at 1.10. Probabilities favor the bulls.

FB failed to follow through off of the previous week's new all-time high and close near the highs of the week, having generated a lower high and lower low than the previous week, as well as a red weekly close near the lows of the week, suggesting further downside below last week's low at 193.11 will be seen this week. The previous all-time high weekly close is at 190.28 and that is the objective for this week (on a weekly closing basis). By the same token, with the NAZ generating a failure signal having closed below the previous high weekly close last week, the probabilities of the stock doing the same are high. Minor but short-term pivotal support is found at last week's low at 193.11. Below that level, there is no intraweek support until 186.43 is reached. Probabilities are high that the traders will target that level (or perhaps a little higher at 187.00) this coming week. Pivotal intraweek resistance is now found at 200.75, meaning that the stop loss can now be lowered to 200.85. Probabilities strongly favor the bears this week.

FCEL continued the recent downtrend, having made a new 11-month weekly closing low. By the same token, the bulls were able to stay above the previous week's low at 1.29, having made a low last week at 1.30, suggesting the selling interest is beginning to wane. By the same token, the stock closed on the low of the week and further downside below 1.30 is expected to be seen this week. Minor to perhaps decent intraweek support is found between 1.22 and 1.25 that is likely to be reached but not likely to be broken at this time. Resistance will be found between 1.40 and 1.44 that is also unlikely to be broken anytime soon. Probabilities favor the stock now trading between 1.22 and 1.44 for the next few weeks.

FSLR bears have not been able to generate any further downside for the past 2 weeks, given that the low at 50.23 that was made 3 weeks ago has held up with lows at 50.55 and 50.57 seen the last 2 weeks. As such, the stock remains in a very minor recovery period, having made a new 2 week high at 55.70 this past week but then only closing $.01 cent above the previous week's close, meaning that the recovery continues but barely. The stock now shows a successful retest of the 50.23 low with a drop down to 50.57 on Thursday and a rally and green close on Friday above Thursday's high, suggesting the first course of business for the week will be to the upside with 54.50 as the immediate objective. Nonetheless, at this time the probabilities continue to favor the bears and a break of the 50.27 with a likely drop down to the 48.50 level. A rally up to 57.62, which would close the runaway gap, would shift the short-term edge back to the bulls. Nonetheless, until that happens (unlikely at this time), the bears remains in overall control.

NE made a new 15-month intraweek and weekly closing high and closed on the highs of the week, suggesting further upside above last week's high at 6.51 will be seen this week. The stock has been going up due to oil going up and with no resistance in oil for another $5, the stock is also likely to go further to the upside. Minor to perhaps decent intraweek resistance is found at 6.70 and then nothing until 7.76. Nonetheless, on a weekly closing basis there is decent resistance between 7.30 and 7.60. It is possible, should oil continue above the $78 level, that the traders will target the 200-week MA, currently at 9.45. There is no support close by on an intraweek basis but on a daily closing basis, the breakout level at 6.01 should not be broken anytime soon. Probabilities favor the bulls.

SN made a new 5-month intraweek and weekly closing high on Friday and closed on the highs of the day, suggesting further upside above last week's high at 4.75 will be seen this week. In addition, the 200-day was broken on Wednesday, successfully retested on Thursday and the upside resumed on Friday, meaning that the chart is now fulfilled to the downside. The stock is also benefitting from the rise in oil, meaning further upside on a fundamental basis is expected to be seen. There is no resistance of consequence above until 5.25 is reached. Further and a bit stronger resistance is found at 5.75 and then strong at 6.19. If 6.19 is broken, the stock would likely target the 200-week MA, currently at 8.10. Support is now found at Thursday's low at 4.28. Any daily close below 4.21 would generate a failure signal. Probabilities strongly favor the bulls.

TWNK on Monday generated a new 7-week intraweek high and close above the 200-day MA, currently at 13.65, but 2 days later the breakout was negated and a drop below the previous week's low occurred. The reversal action was likely due to the negative action seen in the index market. Nonetheless, the bulls were able to generate a green weekly close on Friday, suggesting that the failure action seen may not generate any follow through of consequence to the downside. The stock closed slightly in the lower part of the week's trading range, suggesting a slightly higher chance of the stock going below last week's low at 13.24 than above last week's high at 14.16. Nonetheless, if the 12.95 support level does not get broken, it is likely that the stock will continue trading in the manner seen the past few weeks, which is mostly sideways. A trading range between 13.31 and 13.99 is likely to be seen until the indexes end their present correction or the stock reports earnings on August 7th. Probabilities favor sideways trading.