ARNA generated a negative reversal week, having made a new 9-week high and then closing in the red and in the lower half of the week's trading range, suggesting further downside below last week's low at 39.06 will be seen this week. Nonetheless, the stock certainly outperformed the index market, meaning that there is continuing buying interest being seen that should step up in a big way once a low to the index correction is found. Short-term pivotal support is found at 38.33 and then nothing until minor to perhaps decent support is found at 36.80. Below that level there is no support until 34.90 is reached but given that the stock gapped up between 34.45 and 38.33 after the announcement of the agreement to market Ralinepeg was made, if the stock gets down to the 34.90 support level, it is likely the traders will go ahead and close the gap and as such, support would then be the mid 33's. As such, it does seem that the 36.80 level of support could be short-term pivotal. On a possible bullish note, the stock has built a flag formation with the flagpole being the rally from 31.97 to 42.93 and the flag being the 3-week trading range between 38.33 and 43.15, meaning that if the 38.33 low is not broken and the 43.15 resistance is, an objective of 49.29 will be given. Probabilities slightly favor the bears but the key word is "slightly".

CCJ was trading at the highs of the week at the beginning of the week but the selling pressure seen in the index market prevented the bulls from making a bullish statement, which has been expected to happen for weeks. The stock turned lower at the end of the week in conjunction with the index market and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 11.28 will be seen this week. The stock remains in a bullish flag formation with the flag being the rally from 10.19 to 12.73 and the flag being the 5-week trading range between 11.25 and 12.78. Another positive is that the stock has now stayed above the 200-week MA, currently at 11.30, for 5 weeks in a row, meaning that the probabilities continue to favor the bulls for the longer term. There is intraweek support at 11.25 and at 11.17 and then again and on a daily closing basis at 10.73, which is where the 200-day MA is currently at. Evidently the stock has been reacting to the index market and may continue to do it a bit more this week, but like with ARNA, the long term prospects for the stock are good and when the indexes find a low, this stock is also likely be one of the purchases the traders will key on. Probabilities slightly favor the bears this week but this is a stock to hold on to at this time.

CLB generated a negative reversal week, having gone above the previous week's high and then closing in a new 8-year low and on the lows of the week, suggesting further downside below last week's low at 74.89 will be seen this week. The negative action was very surprising given that oil had a positive week (which seems to confirm that further downside is not likely to happen) and the stock did not receive any negative news. The volatility in the stock that was seen this past week suggests that the stock is ready to turn around. This is further supported by the fact that there has been no negative news released for the past 4 weeks and the downgrades that occurred then still have an upside objective of $105. The one thing that did occur this week is that the stock has now reached a level of support of importance, which is not something that had occurred since the previous intraweek support level of consequence $86 level got broken. In 2007, the stock got up to a weekly closing high at 74.16 after a 5-year rally that started in the low 4's. That weekly closing high stood up for 3 years before it was broken and which brought about the subsequent rally to $217. As such, the 74.16 level (on a weekly closing basis) has to be considered a strong and important support level that would require specific negative fundamental news to break. This is a stock that has shown in the past (when a low of consequence is found) a strong tendency to generate rallies of at least $13 to as much as $50 with the average being rallies of about $25. Resistance on the chart, on a weekly closing basis, is now decent at 89.67, meaning that if the $74 level of support holds up (which it should), a rally up to $89 should occur, which is certainly within the purview of what rallies in the past have been. Any drop below last week's low at 74.89 should be purchased this week.

CLF generated a negative reversal week, having gone above last week's positive reversal week and then closing in the red and near the lows of the week, suggesting further downside below last week's low at 8.67 will be seen this week. The stock has a decent intraweek support level at 8.43, which was the low seen 2 weeks ago and from which a positive reversal week occurred and also from which 4 daily closes in a row above the 200-day MA, currently at 9.25, occurred. This negative past week was likely as a result of what happened in the index market but could also be the precursor to the required/needed retest of the 8.43 low before the traders get back on the buy side. Evidently and if the indexes continue lower as expected, the 8.43 level will become an important pivot point support this week. The traders showed the previous week that the probabilities of lower prices have ebbed substantially and that they are ready to purchase. A rally above last week's high at 9.74 would generate a buy signal of consequence. A drop below 8.43 would be a negative but perhaps not a strong one as there is further support of consequence at the 8.11 level. Probabilities slightly favor the bulls.

CRON received a $2.4 billion dollar payment from Altria (Marlboro cigarettes) for 45% ownership of the company and made a new all-time weekly closing high, above the previous one at 12.61 (closed on Friday at 12.72). The stock closed in the upper half of the week's trading range, suggesting further upside above last week's high at 13.95 will be seen this week. On a possible negative note, the all-time intraweek high at 15.30 was not broken, meaning that the bulls have more to do to make this event into a true bullish statement. Intraweek support is now found at 10.82 and pivotal now at 9.76. Though the news is definitely positive, it was not about the marketplace, meaning that it is not news that guarantees further upside. Nonetheless, probabilities do favor the bulls, especially given that a new all-time high weekly close was made.

ENG continues to trade with no direction. This was the 6th week in a row that the stock has traded in a narrow $.15 cent trading range between .80 and .95. Support is decent and pivotal at .80. The stock did close on the lows of the week and further downside below last week's low at .81 is expected to be seen this week. Resistance is decent and pivotal .95. Support is found at .80, at .75 and pivotal at .73. Probabilities slightly favor the bears but this is a stock that at these prices is not likely to go much lower.

FSLR generated a negative reversal week, having made a new 8-week high and then closing below the previous week's low. This stock does have some sensitivity to the index market and as such, is likely to partially mimic the indexes. The stock did close near the lows of the week and further downside below last week's low at 42.17 is expected to be seen this week. Support of consequence is found around the $40 demilitarized zone and given that there has not been any retest yet of the 36.51 low seen in October, this move down will likely be seen as that required/needed retest. There are 7 previous intraweek lows of consequence between 39.18 and 40.51, suggesting that somewhere in that area the bulls will likely be buyers given that the stock has been showing strong signs that a major low was made and that fundamentally the stock should be moving higher for the mid-term. Resistance is now found at 46.09 and pivotal at 47.79. Probabilities favor the bears this week but buying interest of consequence should be found around the $40 level.

MCIG made a new 7-month intraweek low and closed in the lower half of the week's trading range, suggesting further downside below last week's low at .1869 will be seen this week. Nonetheless, there was some buying on Friday after the news of the CRON merger and overall that news should be supportive of the Cannabis stocks. Important and pivotal intraweek support is found at .175 (.189 on a weekly closing basis) and that was the area where some buying was seen this past week. Pivotal intraweek resistance is now found at .215. Probabilities favor the bears this week but only for a test of .175. I expect the stock to show some turn around this week.

LVS generated a negative reversal week, having made a new 9-week high but then closing in the red and near the lows of the week, suggesting further downside below last week's low at 52.80 will be seen this week. The stock has been showing decent buying interest but the bulls were unable to offset the selling seen in the index market and given that no retest of the 28-month low made 4 weeks ago at 48.64 has been seen on the weekly chart, this move down suggests that will be the objective of the traders this week. Support is found at 50.82, at 49.28 and pivotal at 48.64. Probabilities favor the bears this week.

SLCA generated a red week and a close on the lows of the week, suggesting further downside below last week's low at 13.01 will be seen this week. The double bottom at 12.89/12.97 is now considered a triple bottom and likely to be broken, negating all the positives the bulls had built over the past 7 weeks. Nonetheless, there is support at 12.37 and if the bears are unable to break that level, a positive reversal week could occur, especially considering that oil seems likely to generate a rally this coming week. Resistance is now minor to decent at 15.22 and decent as well as pivotal at 15.72. It is evident that this coming week is pivotal for the stock given that below 12.37 there is no support until the $10 demilitarized zone is reached. In addition, the intraweek support at 12.37 is at 12.90 on a weekly closing basis, meaning that the probabilities actually favor a positive reversal this coming week.