ARNA bears were unable to generate any follow through to the previous week's close on the low of the week, having generated an inside week and a green weekly close near the high of the week on Friday, suggesting further upside above last week's high at 47.07 will be seen this week. The green weekly close means that the close seen 2 weeks ago at 44.06 is now a successful retest of the previous low weekly close at 43.23 and it does suggest the bears have lost a measure of short-term control and that the traders are waiting for news or some sign from the index market as to new direction. It does suggest that until one or the other comes out or is decided that the stock will trade between 44.00 and 48.50. A break above 49.54 or below 42.48 will be indicative but otherwise it is likely to be sideways trading until news comes out.

BABA has traded in a narrow 4% sideways trading range between 182.56 and 189.79 for the past 3 weeks without direction being clearly defined. With the indexes making new highs every week during the past 3 weeks, it does suggest that the traders are not as bullish on the stock as they are in the index market and it does open the door for selling interest this week if the indexes fail to make new highs and drag the stock up. The company reports earnings on the 15th of next month and it may be the reason why the stock is doing little, awaiting news. Nonetheless, the stock did close near the high of the week, suggesting further upside above last week's high at 188.74 will be seen this week, suggesting the bulls have the edge. There is now established resistance at 189.79 and more and a bit stronger between 191.22 and 191.75, meaning that it is unlikely those levels will be broken without index or earnings report help. Pivotal support is now clearly established at 182.56. Probabilities favor the bulls this week.

CCJ generated a short-term sell signal on all charts, having broken intraweek below 11.29 and having closed below the daily and weekly closing supports at 11.50 and 11.53. The stock closed near the lows of the week and further downside below last week's low at 11.09 is expected to be seen this week. This action does put the future in doubt as well as whether the long term uptrend will remain by staying above the 200-week MA, currently at 10.93. By the same token, until such a time that the stock generates a confirmed break below the MA line, all that is suggestive of the short-term sell signal that was given this week is that the probabilities of the stock resuming the uptrend anytime soon have now gone down or at least extended to the future by a couple of months. In looking back over the past 8 years, there does seem to be a pattern of the stock selling off around May and not recovering until July and in some cases not until October, meaning that consideration should be given to taking profits and looking to rebuy later on in the year. Evidently, if the 200-week MA is broken, immediate consideration should be given to liquidation but if not, a bounce should occur, at least up to the 11.50 level, and at that time consideration should be given. It is clearly evident by the break of support that the stock is unlikely to do anything of great consequence to the upside for at least the next 2 months.

ENG was unable to follow through to the upside off of the previous week's close on the high of the week and did generate a red weekly close that keeps the bears with the edge. Nonetheless, the red weekly close was only by $.03 and not a clear statement, considering the fact that a bullish flag formation remains with the flagpole being the 12-day rally from .48 to .70 and the flag being the 8-day trading range down to .60. This means that the .60 level is short-term pivotal support and the .70 level is the opposite. Volume has remained low, meaning that there is not much interest at this time in trading the stock in either direction. Probabilities favor more of the same this week.

FSLR generated a positive reversal week, having gone below the previous week's low and then closing above the previous week's high, suggesting the uptrend continues in full bloom. In addition, a failure signal against the bears was given when the stock closed on Friday above the 61.22 low weekly close that held up for 6 month in the early part of 2018 and that when broken caused the stock to drop down to the $35 level. This failure signal if confirmed, would suggest a minimum rally up to the $65 level where "minor" resistance is found but would likely mean the stock ultimately and over a period of 3 months could get up as high as the $70 level before any strong selling would occur. Pivotal support is now found at 59.40 that should not be seen anytime soon. Probabilities favor the bulls.

IBM generated an inside week but did close in the red and below the important weekly close support at 139.70. Nonetheless, the bears need to confirm the break of support with another red weekly close next Friday before the traders go "full hog" into short positions. Given the pivotal fundamental nature of this coming week, there are no assurances for either side. By the same token, based on the weekly close and break of support, which was against what the index market did, the edge is now on the side of the bears. Intraweek resistance is now found at 141.31 that if broken would suggest the bulls are "back in the saddle", meaning that the stop loss will now be at 141.41 and it will be a hard stop. There is support at 136.26 that should be pivotal but given that the 200-day MA is currently at 135.48, a break of that support is not all that indicative of future direction. Nonetheless, a break of the intraweek support at 135.09 would be. Probabilities slightly favor the bears but since it is a fundamentally pivotal week for the market, the probabilities are slight.

MCIG made a new 30-month low and for all intents and purposes has broken down totally, meaning the future is now up in the air. A fundamental evaluation that I read states the stock is likely to trade between .05 and .08 cents for the next 3 months and the chart supports that scenario. Nonetheless, this is now a stock that can only be considered as a buy and hold stock if you believe the future of Cannabis stocks is bright and believe this company can participate in that market successfully, which at this time does not seem to be highly likely. I do not have many shares of the stock so I have chosen to keep the stock as a buy and hold but see no benefit for anyone to hold the stock for the short or even mid-term. Simply stated, this is a low probability-of-success stock. As such, I will carry the stock on the monthly results page of the newsletter but will not mention the stock on the weekly newsletter unless something of consequence occurs in either direction.