ARNA generated a 12.3% drop this past week and that now adds up to a 23% drop from the 21-month high at 50.05 over the past 6 weeks. The drop of 20%+ is a sign that the recent uptrend is over until such a time that the fundamentals change again for the positive. The stock closed on the lows of the week and further downside below last week's low at 38.34 is expected to be seen this week. The stock had built a bearish inverted flag formation that offered a 36.85 downside objective and that now seems like a high probability of happening with the stock having broken the bottom of the flag this past week and spiking lower. The stock was showing minor to decent support at 38.50 and 39.00 that got broken this past week as well, meaning that further downside is now highly probable. The next level of intraweek support on the chart (minor to perhaps decent) is found between 36.80 and 36.88. By the same token and on a weekly closing basis, support is found at 37.85 as that is where the 200-week MA is currently at and that is a line that has not been seen or broken since June 2017 (13 months) and is unlikely to be broken on a weekly closing basis this week given that there has not been any negative change of fundamentals. The first fall in the recent downtrend occurred from 50.05 to 41.50 and it took 2 weeks to accomplish with the second week the stock generating a positive reversal week (green weekly close). As such, there is a high probability of the same thing happening this week, with the stock dropping down somewhere close to the downside objective at 36.85 and then closing next Friday above 38.46. The worst case scenario would be a second red weekly close but at or slightly above the 200-week MA at 37.85. As such, any break below 37.00 should be considered for purchases. To the upside, resistance will now be found at 41.92 (minor to perhaps decent), at 42.74 (minor), at 44.50 (minor to perhaps decent) and at 45.35/45.85 (decent). Chart presently suggests that the stock will be in a trading range between $37 and $43 for the next 2-3 months.

CALM did not follow through to the upside off of the previous week's close near the highs of the week and ended up breaking the 200-week MA, currently at 44.65, on an intraweek basis. Nonetheless, the bulls were able to rally the stock to close above the MA line and close in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 45.75 than below last week's low at 43.50. Nonetheless, having failed to rally above the previous week's high last week, does open the door for the same thing to happen this week, especially if the indexes head lower as expected. The stock did generate a confirmed break of the 200-day MA, currently at 45.60 and given that it trade all week below that line, a rally above last week's high at 45.75 would likely be a signal that the short position should be covered. I will keep the stop loss at 46.35 but will consider covering the short if 45.75 is broken. Probabilities favor the bears.

CCJ reported earnings and they were better than expected. Nonetheless and after a spike up to 12.15, the stock generated a red weekly close as well as a close near the lows of the week, suggesting further downside below last week's low at 10.63 will be seen this week. The selloff from the highs was likely because the stock once again went up to the 200-week MA, currently at 11.83, with the rally up to 12.15 and failed to break the previous intraweek high at 12.19 and the traders liquidated their positions. The stock has been trading below the 200-week MA for the past 4 years, has only broken the line once in the past 7 years and only twice in the last 10 years, meaning that the selloff was mostly technical in nature as breaking a long established MA line (as the 200-week MA is) is not easy. Nonetheless and after the earnings report came out, upgrades were given with a raising of the target from $15 to $16, suggesting that further downside if seen will be limited. Intraweek support is found at 10.52, at 10.31 and at the $10-demilitarized zone which is further strengthened by the 200-day MA, currently at 9.98. If the bears are able to break the most recent low at 10.52, it would likely mean that the 200-day MA would be tested. By the same token, the intraweek support between 10.31 and 10.41 spans 30 months and 4 previous spike lows, suggesting that it will be very difficult for that support level to be broken, especially given the better than expected earnings report and upgrades. As such, purchasing additional shares between 10.31 and 10.52 seems like a good option to institute.

CLB made a new 15-week intraweek and weekly closing low this past week and closed near the lows of the week, suggesting further downside below last week's low at 110.01 will be seen this week. The stock closed below the 200-week MA, currently at 12.60, and if the break is confirmed this coming week with another close below that level next Friday, the chart outlook is likely to change. By the same token, there is weekly close support between 109.00 and 109.53 that is indicative, meaning that even if the stock confirms the break of the MA next Friday that not all may be lost for the bulls if they are able to stay above the 109.00 level for the weekly close. A convincing close next Friday below 109.00 would be strongly short-term detrimental to the chart. On an intraweek basis though, below the recent low at 109.78 there is no support until 107.16 is reached, meaning that the stop loss at 109.65 should be maintained. Oil generated an inside week last week and closed in the middle of the week's trading range, meaning that a rally above last week's high at 69.92 or below last week's low at 67.56 will be short-term indicative and will likely color what the traders do with the stock. Short-term pivotal resistance is found at 114.19 and a bit stronger and more pivotal at 115.44. The stock did report earnings this past week and they came out as expected. The rating companies maintained their "overweight" status but several of them lowered their upside projections to $118. The chart does suggest a decent probability of the stock getting into a sideways trading range between $107 and $121 for the next few months. Probabilities favor the bears this week.

CLF generated another green weekly close but the bulls began finding selling interest as the stock approached the high weekly close for the past 46 months at 11.49, having gone up to 11.44 this past week and then falling back to close slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 1010.12 than above last week's high at 11.44. On a slightly positive note, the bulls were able to break the minor to perhaps decent resistance at 9.93, suggesting that the $10 demilitarized zone will now likely become a support level of note. The probabilities now favor the stock doing some backing and filling over the next 2-3 weeks between 9.70 and 11.49. By the same token, the outlook remains bullish for a run to the $13 level to be seen over the next 2 months.

ENG continued to trade within its 8-week trading range between 1.06 and 1.47, having traded last week between 1.20 and 1.32. The stock did close near the lows of the week, suggesting further downside below last week's low at 1.20 will be seen this week. The bullish flag formation remains in place that offers a 1.80 objective if the top of the flag at 1.47 gets broken. Nonetheless, this week it does seem like the 9-week low at 1.10 will be tested with a drop down to either 1.16 or even 1.12. Nonetheless, there have been no changes in the fundamental outlook, suggesting more of the same as has been seen for the past 9 weeks will be seen. The company reports earnings on Wednesday August 7th and it is likely that will be the catalyst for movement. Probabilities continue to favor sideways trading this week.

FCEL made a new 54-week low weekly close on Friday and closed on the low of the week, suggesting further downside below last week's low at 1.30 will be seen this week. The bulls have failed to generate enough buying to test the weekly close breakdown point at 1.65 and selling interest has therefore comeback. Intraweek support is found at 1.25 but if broken there is no support until 1.00 is reached. On a weekly closing basis though, there is no support below until .93 is reached, suggesting that a break below 1.25 will result in that all-time low weekly close getting tested. Probabilities favor the bears.

FSLR reported earnings and they were substantially below expectations and the stock made a new 9-month intraweek low with a drop down to 48.00. Nonetheless, the bulls were unable to confirm the negative report, having rallied to close on Friday slightly above the midpoint of the week's trading range and above the low weekly close at 50.23 that had been in place for the past 7 weeks, suggesting that the worst of the recent correction is over and that a spike bottom at 48.00 has likely been built. As it is, the charts had previously suggest that the stock would drop down to the 48.00-48.50 level even before the earnings report came out and now it has happened and the end result (in spite of the negative earnings report) is that the traders are now likely to try to rally the stock rather than try to work lower prices. The stock did gap down on Friday after the report came out but then reversed to close near the highs of the day, suggesting closure of the gap at 53.45 will be the first objective. Closure of the gap would confirm the positive reversal seen and suggest that support will now likely be found between 48.50 and 49.50 when a retest of the 48.00 low seen on 'Friday occurs. As such, purchases of the stock can now be considered on any dip below 50.00 with a stop loss at 47.65 and an upside objective of $60 or even possibly as high as $65. Probabilities favor volatility being seen this week but a possible trading range of 49.50 to 53.50.

SN generated a second red weekly close in a row but closed on Friday at a level of support around 4.30 that has a high probability of holding up given that support level held up for 3 months between October and January and when broken caused the stock to trade down to 2.94 and be in a sideways trend between those 2 levels for 5 months before a breakout/failure signal was generated that then took the stock up to the $5 level. It also needs to be mentioned that the stock (based on weekly closes) seems to be building a bullish inverted Head & Shoulders formation with the left shoulder at 4.30, the head at 2.94 and the right shoulder in the process of being built with a decent chance of it being at 4.32 (Friday's close). The objective of the flag, if the right neckline at 5.04 is broken, is 7.14 and to be reached over a 10-week period of time. It also needs to be stated that the 200-week MA is currently at 7.62 and that is an extremely viable upside objective as well, suggesting the formation being formed is valid and likely to work to perfection. The stock did close near the lows of the week and further downside below last week's low at 4.10 is expected to be seen. The stock shows minor to perhaps decent intraweek support at 3.92 and then decent and unlikely to be broken at 3.58. The probabilities do favor one of those 2 levels being seen intraweek this week but a green close occurring next Friday, suggesting that any dip below 4.00 should be bought with a stop loss at 3.48. The formation is so clearly defined and suggestive of a bullish outcome that aggressive purchases should be considered.

TWNK generated a negative reversal week, having made a new 14-week intraweek high and then closing in the red and near the lows of the week, suggesting further downside below last week's low at 13.94 will be seen this week. The previous week the stock did break above a 3-point downtrend line on the weekly closing chart that is presently at 14.00 and therefore the red weekly close on Friday at 14.09 is likely just a retest of the breakout, which is normal to be seen. Weekly close support is found between 13.94 and 14.00 and daily close support is found at 13.94 that should not be broken if the bulls want to confirm the breakout and look for higher prices. Intraweek resistance is found at 14.50 that if broken would give the bulls new and likely stronger ammunition. The company reports earnings on Tuesday August 7th and that report is likely to be catalytic for the stock. Intraweek support is found at last week's low at 13.94 and then again at 13.70. If the latter is broken, the bears will regain the edge. Probabilities favor the bulls.