ARNA generated a new 34-month weekly closing high on Friday and closed on the highs of the week, suggesting further upside above last week's high at 45.09 will be seen this week. The 34-month intraweek high is at 45.85 and the probabilities favor that level getting broken as well given that there isn't any possibly negative reports due out this week. Above 44.85 there is no intraweek resistance until 47.20 is reached. Nonetheless, between 47.20 and 47.90 there are 3 minor resistance levels found. Above that level, there is minor to perhaps decent resistance at 49.05 and at 49.70 and then decent at 51.20. On a weekly closing basis though, the stock is at a minor short-term pivotal resistance area between 45.00 and 45.30, meaning that next Friday's close will likely determine what the stock will do for the next 6-8 weeks. A red weekly close next Friday would suggest a drop back down to the $39 level would likely be seen. A green close above 45.30 would suggest further upside, likely to the $50 level, is on the horizon. Probabilities favor the bulls.

AXP made a new all-time high weekly close on Friday, above the previous one at 101.08 (closed at 101.42). Nonetheless, the bulls were unable to make a new all-time intraweek high above 102.96, having gotten up to 102.68 on Friday and backing off to close on the lows of the day, suggesting the first course of action for the week will be to the downside below Friday's low at 101.27. If that occurs, a successful retest of the all-time high will occur on the intraweek and with absolutely no support until minor support at 99.97 is reached, it could become an important and decisive week given that a red weekly close next Friday below 101.08 would create a double top of consequence on the weekly closing chart. There is a dearth of support of any consequence below until the $98 and the $96 levels are reached. A drop this week below last week's low at 98.29 would be a bearish sign of consequence. The probabilities slightly favor the bulls but the chart says that this is a pivotal week.

CALM generated an uneventful inside week but the stock did close near the highs of the week, suggesting further upside above last week's high at 48.25 will be seen this week. Minor to decent intraweek resistance is found at 48.40 but above that level there is no resistance of consequence until the $50 level is reached. This does suggest that consideration should be given to taking profits if the 48.40 level is breached. Support of some consequence is found at 46.05 and then pivotal support at 45.60. Probabilities continue to slightly favor the bears, especially considering the bulls were unable to rally the stock much on a week the indexes gave a buy signal.

CCJ extended its rally on a weekly closing basis, having generated another new 13-month weekly closing high. Nonetheless, there were a few new signs of selling interest, starting with the fact that the stock generated an inside week as on an intraweek basis no new highs were made. The 200-week MA, currently at 12.29, continues to be the main objective of this rally but that line is now 5 points lower than it was the previous week and only $.78 cents from Friday's close (6%), and considered that the line is unlikely to be broken the first time around, especially considering that it has not been broken convincingly (for more than a few weeks) since 2010 and not broken at all for the past 4 years, strong consideration should be given to taking profits if the line is reached this week. Minor support is found at 11.20 and possibly short-term pivotal at 11.04. Probabilities favor the bulls this week.

CLF made a new 4-month high this past week and closed near the high of the week, suggesting further upside above last week's high at 8.63 will be seen this week. Intraweek resistance of some consequence will be found at 8.77 and then decent as well as longer term pivotal at 9.15. The stock did close on the lows of the day on Friday and further downside below Friday's low at 8.40 is likely to be seen on Monday. Minor support is found at 8.12 and a bit stronger and likely more indicative at 7.74. Any daily close below 7.97 would now be a "deflator". Evidently, the stock is now reaching an important pivotal area at 9.15 that if broken would give the bulls strong new chart ammunition for a run to the $10 level. Probabilities do favor the bulls but only slightly as this stock has seen a lot more selling pressure than buying interest for the past 15 months and it is not going to be easy for the bulls to generate the kind of a breakout at this time that is meaningful. A failure to get above 9.15 on this run, suggests the stock will fall back to the 7.00 before another attempt to the upside is seen.

ENG reported earnings this past week and though they were slightly disappointing on the earnings front, they were better on the income and expense basis (outlook for the future). The stock generated a new 7-month weekly closing high as well as a spike up rally and a close on the highs of the week, suggesting further upside above last week's high at .95 will be seen this week. Decent intraweek resistance is found at .96 and then decent to perhaps strong at .99. A break above .99 would offer open air until at least 1.10, if not up to the 1.30 area that has been so pivotal so often over the past 3 years. The bulls are committed to breaking above the .99 level this week as anything less than that would be disappointing. It is important to note that the 200-day MA is currently at .98 and that line has not been broken to the upside since April 2017, meaning that this week will be a "battle week" between the bulls and the bears. Probabilities slightly favor the bulls given the strong bottom that has been built over the past 7 months.

FCEL generated another slightly positive week, having made a new 4-week intraweek highs. Nonetheless, the bulls were unable to accomplish anything of consequence, having closed unchanged for the week, leaving the weekly close resistance at 2.01 untouched. Though nothing of consequence occurred this week, the bulls continue to increase their edge after 7 months of building and testing support over and over again. Minor resistance is found at 1.99 and then nothing but stronger at 2.10/2.11. Traders are likely to wait for the earnings report that comes out June 7th, meaning that for the next 4 weeks much of the same kind of sideways trading is likely to be seen. Nonetheless, the chances of something positive occurring before that have increased. Probabilities favor the bulls this week.

MSFT generated a new all-time intraweek high on Thursday and a new weekly closing high on Friday and did close near the highs of the week, suggesting further upside above last week's high at 97.95 will be seen this week. Nonetheless, the new high was only by 5 points and it did not stimulate any new buying of consequence as the volume actually dropped rather than increased. Over the past 3 months, the stock has actually made a total of 3 new all-time highs and the previous 2 failed to generate any follow through of consequence to the upside and within 1-3 days the stock was trading down and within a week or two, a correction of anywhere from 6-10% occurred. I don't see anything much different happening at this time. As such, the stop loss at 98.00 will remain a mental stop loss only to be triggered if the bulls are able to make a strong statement. Minor but likely pivotal support is now found at 95.05. The previous 2 new all-time highs were 1.7% and 1% above the previous high, meaning that it is possible to see the stock get up to as high as 98.90 or even 99.56. Anything less than that would be a negative sign. Probabilities for the bulls this week but not for longer than 1 week.

RENN bears failed to generate any further downside after last week's spike drop and close near the lows of the week, suggesting the selling interest has waned. It was an inside week but with a close near the highs of the week, suggesting further upside above last week's high at 8.95 will be seen this week. If that occurs, much of the selling pressure will be relieved and the stock is likely to additionally recover. The stock did generate a positive reversal day on Friday, having made a new 8-day low and then turning around to close in the green and near the highs of the day, suggesting further upside above Friday's high at 8.83 will be seen on Monday. In addition, a rally above 8.83 on Monday will make Friday's low at 8.43 into the required/needed retest of the low at 8.34. A break above last week's high at 8.95 shows open air above until the 200-day MA, currently at 9.37, is reached. Nonetheless, previous intraweek resistance is not found until 9.75 is reached. A new low below 8.34 would be considered a strong negative. Probabilities slightly favor the bulls this week.