ARNA made a new 52-month intraweek and weekly closing high and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 53.83 will be seen this week. There is no intraweek resistance above until the 60.00 level is reached and that resistance is old (9 years ago). Nonetheless, there is minor to perhaps decent weekly close resistance at 54.30 and that is probably why the stock fell back almost $2 from Friday's high. The stock did close near the lows of the day on Friday, suggesting the first course of action for the week will be to the downside and below Friday's low at 50.95. Nonetheless, the previous multi-year daily closing high is at 50.93 and that level is now support and should not be broken, meaning that a daily close below 50.93 should no longer occur. Probabilities favor the bulls.

CCJ made a new 8-month intraweek and weekly closing low and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 10.15 is likely to be seen this week. The stop loss I had at 10.51 was triggered, meaning that the chart outlook has changed. I have not gotten out of the trade because the $10 level is a strong psychological support and a bounce is likely to occur from it and a rally back up to at least the 10.90 level, which is where the 200-week MA is currently at, is likely to occur. I will likely get out of the positions then with a small profit. The next pivotal support area is at 9.67 (based on a weekly close) and if that is broken, the stock will be back in a downtrend. This does support the idea that the $10 demilitarized zone is likely to hold up for now as there is no fundamental reason for the stock to go from an uptrend to a downtrend without first going sideways for a few months. Intraweek resistance is now found at 11.18 and support at 9.39. Probabilities strongly favor the stock trading in that range for the next few months but a retest of the weekly MA is likely to happen first rather than the support below seen first.

CPG reported better than expected earnings and generated a green weekly close, making the previous week's close at 3.65 into a successful retest of the weekly close breakout at 3.50. The stock closed near the highs of the week and further upside above last week's high at 4.16 is expected to be seen this week. The bulls are still facing some strong obstacles in the form of the recent 6-month daily closing high at 4.41 and the 200-day MA, currently at 4.32. If those two levels can be broken and confirmed, the stock shows "open air" until the $5 demilitarized zone is reached. By the same token, using the weekly chart there is no resistance above until 5.43 is reached. Intraweek support is now pivotal at 3.47, meaning that stop losses can now be at 3.37. Probabilities favor the bulls.

CVS generated an inside week but did close near the lows of the week, suggesting further downside below last week's low at 54.24 will be seen this week. It is important to note that a few weeks ago the stock made a new 6-year weekly closing low at 52.81 and that low has not yet been tested on the weekly chart, meaning this weekly red close will likely end up being the required/needed retest of that low. Using the daily chart, the stock broke out of the previous downtrend when it generated a daily close above 54.22, meaning that the stock should no longer close below that level unless this was a false breakout (unlikely). As such, the action seen this past week is within the norms of "normal" chart trading. There is no intraweek support until 52.83 is reached, meaning that the stated stop loss at 54.02 should be mental. Probabilities favor further downside this week but a 50-50 chance of a green weekly close next Friday.

ENG bulls were unable to generate any follow through to last week's failure signal against the bears but by the same token, the bears were unable to do anything either. The .80 level is proving to be a difficult intraweek resistance though in reality that level has been support and resistance many times in the past. The stock got up to the .80 level every day for the past 8 trading days, suggesting that it will ultimately be broken given that it is now a multiple high area. One of the reasons that perhaps the bulls were unable to break that level this week is likely because of the index market weakness. The stock has shown in the past "some" affiliation to what the indexes do. Nonetheless and thinking that level will be broken, there is now a close by pivotal resistance level at .85 and again at .90 that could change the chart to the positive. The 200-day MA is currently at .85 and if that line is broken and the break is confirmed, it will be the first time that has occurred in 8 months. The .90 cent resistance is more important given that it has been the 6-month intraweek high. If both of those breaks occur, it will give the bull's new and more powerful ammunition. Decent and pivotal support is now found at .70, which if broken would weaken the bull's hands. Probabilities favor the bulls.

FSLR generated the first pause of consequence seen in the past 9 weeks, having seen a 10% move down from the previous week's high to last week's low. The stock did close below the 61.22 weekly close level that had given a confirmed failure signal against the bulls the week before. Nonetheless, the bulls were able to rally the stock enough to close in the $60 demilitarized zone, meaning that no damage was done to the uptrend on a chart basis. The stock closed very slightly in the upper half of the week's trading range, suggesting a slightly higher chance of going above last week's high at 61.91 than below last week's low at 57.88 and if that occurs, the weakness seen last week will be negated and last week's low will become pivotal support. Probabilities do favor the uptrend continuing overall but a slight 2-4 week pause might be seen.

LNTH made a new all-time intraweek high but did not see follow through on a weekly closing basis because of the weakness seen in the index market. Nonetheless, the stock did close in the upper half of the week's trading range and further upside above last week's high at 26.40 is expected to be seen this week, meaning that the index weakness affected the stock in a very minor way. The daily chart continues to show higher highs and higher lows consistently, meaning that last week's low at 24.19 is the new intraweek support level that if broken would likely mean the uptrend is on pause. Once again, probabilities favor the bulls this week.

MCIG generated a new 41-week intraweek low this week at .0625 but the new low was not confirmed on the weekly closing chart as the previous low weekly close seen 3 weeks ago at .745 was not broken. This does suggest that the selling interest is beginning to wane as the stock nears the downside fundamental objective of .05. The stock did close near the highs of the week and further upside above last week's high at .08 is expected to be seen. If that does occur, there is a decent chance of a short-covering rally that could take the stock back up to .107, which was the low weekly close that stood up for 30 months. Such a rally if it does occur, could be reason to liquidate the positions as the chart suggests the stock might be in a .05 to .10 trading range for 6 months or more. Probabilities favor the bulls this week.

TEVA made a new 18-month weekly closing low but then again it was only by $.02 cents so it was not convincing, especially when the new low was not confirmed on the intraweek chart given that the previous low at 14.02 was not broken (low last week was 14.15). The stock did close near the lows of the week and further downside below last week's low is expected to be seen this week. There is a strong struggle happening in the stock between the bulls and the bears, given that the stock is still in a strong downtrend but recent news and chart action has given the bulls a door to the upside they have been trying to move through. The company has been in the past a very strong and dependable company that has suffered through some unexpected problems with the medicines they produce. The price, compared to where it was 3 years ago has dropped more than 75% in value and fundamentally that seems to be extremely low. This coming week is pivotal as new multi-month lows in conjunction with a red weekly close next Friday will give the bears back the edge they lost a few weeks ago and keep the recovery from happening anytime soon and perhaps renewing the downtrend. Probabilities are 50-50 this week. Stop loss at 13.92 should be maintained but it should be a mental stop loss.