ARNA made a new 5-year weekly closing high and closed on the highs of the week, suggesting further upside above last week's high at 58.88 will be seen this week. The previous 5-year intraweek high at 59.31, seen 5 weeks ago, did not get broken but based on where the stock closed, that level should be broken this week. Above 59.31, there is no intraweek resistance until decent at 62.80 is reached. That resistance is likely going to be difficult to break the first time around, meaning that taking some profits at that level should be considered. Support is now found on a daily closing basis at 53.01 and on the weekly closing chart it is at 54.32 but if 59.31 is broken and confirmed, support will then go up to the 57.50 level, a level that should not be broken thereafter unless some negative information comes out. Probabilities favor the bulls.

AU generated another green weekly close, the 7th in a row, and once again closed on the highs of the week, suggesting further upside above last week's high at 18.01 will be seen this week. Nonetheless, the stock is now nearing a level of resistance of some consequence at 18.68, given that it was a previous high that was not broken for 3 years and also a level where a weekly gap down between 19.03 and 18.68 occurred in August 2016. Gold has generated a confirmed breakout and should help the bulls keep going higher but this is an important level of resistance where some decisions are likely to be made, at least on a short-term basis. Closure of the gap at 19.03 should help the bulls get up to the $20 demilitarized zone and above that level there is open air until the $30 level is reached. Intraweek support is now found at 16.77 and at 15.20 but on a daily closing basis, the stock should no longer close below the most recent breakout at 15.51. To a short-term degree, this coming week is pivotal as the stock is likely to get up to the 18.68 level and the stock has moved up for 7 weeks in a row, meaning it is about due for a red weekly close. Probabilities favor the bulls for a rally at the beginning of the week but then the probabilities reverse to favor the bears toward the end of the week. One thing to consider carefully is that the $15 level is now a level that should not be broken to the downside and the overall objective of this trade is $30, meaning that the short-term gyrations of the stock should not factor into the decision to hold or trade the stock unless you are planning to trade the stock consistently. The risk/reward ratio is now in favor of the bulls at any of these levels and the short-term gyrations will not affect that at all.

BABA generated the 4th green weekly close in a row and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 171.98 will be seen this week. In addition, a failure signal against the bears was given when the stock closed above a previous low weekly close of importance at 167.52. As such and if the bears still maintain any sort of an edge, they need to generate a red weekly close next Friday below 167.52 or the bulls will get their edge back. The daily close chart does show some resistance at the $170 demilitarized zone and the stock did run into that resistance, having closed on Thursday at 170.90 and then on Friday at 169.45. As such, it will be very important to see how the stock acts on Monday with the trade talks on again. Pivotal support is now found at 164.62 and pivotal resistance is now found at last week's high at 171.98. Given that the probabilities favor that high being broken, if the stock closes the gap at 167.34, consideration should be given to taking profits though minor in nature. Probabilities slightly favor the bulls.

CCJ continued its recent recovery rally, having generated another 6-week high and the 5th green weekly close in a row. The stock closed on the highs of the week and further upside above last week's high at 10.78 is expected to be seen this week. It is of note that the stock closed on Thursday at 10.45, meaning that the bulls were obligated to rally the stock on Friday above the previous week's close at 10.63 given that a red weekly close would have paused the recovery rally and it was not until the last 10 minutes of trading that the bulls were able to generate a green weekly close. It does suggest that the bulls continue to have the short-term edge. Nonetheless, the stock has now arrived at a pivotal level of weekly close resistance given that the 200-week MA is currently at 10.79 and that means that a green weekly close next week would be bullish for the longer term but a red weekly close would suggest the bulls have more to do to change the short-term outlook. It does need to be mentioned that on an intraweek basis, there is no resistance above until 11.18/11.32 is reached and that opens the door wide for a rally to that level, which in turn would make it difficult for the bears to generate a red weekly close next Friday. At this time and given the overall picture of commodities, I would give the probability edge to the bulls.

CLB was unable to follow through on the previous week's spike up rally and close on the high of the week given that an inside week occurred coupled with a red close. The likely reason for this happening was that one rating company lowered the upside objective to $77 (from $95) in spite of maintaining an outperform rating. Nonetheless and chart-wise, some necessary chart work was accomplished given that the daily close breakout at 50.62, as well as the psychological support at $50, were tested successfully when the stock closed on Wednesday at 50.04 and then was following by 2 green daily closes at 51.23 and Friday's close at 52.28. The stock closed slightly below the midpoint of the week's trading range, leaving the door open for both the bulls or the bears regarding going above last week's high at 55.25 or below last week's low at 49.93. Nonetheless, with the stock now showing a successful retest of those two important levels and oil looking to maintain its upward momentum this week, I would venture to give the probability edge to the bulls. Evidently the previous week's high at 55.35 is pivotal resistance given that last week the bulls were unable to get above that level. Nonetheless, above that level there is no previous intraweek resistance until 60.98 is reached, meaning that if broken the stock could easily rally an additional $5 without much problem. There is daily close resistance at 58.84 and weekly close resistance at 57.17. Support is now likely pivotal at the $50 demilitarized zone.

CPG technically generated a negative reversal week, having gone above the previous week's high and then closing red. Nonetheless, the break above the previous week's high was only by $.04 cents and the red close was only by $.02, suggesting it is not meaningful. The stock did trade in this manner (small trading ranges with a very slight upward bias but resistance above not broken) for a period of 4 weeks in December/January. During that period of time, the 3.42-3.45 level was impenetrable though seen repeatedly (3 times). By the same token and to the downside, the 3.21 levels also showed decent support buying. As such, it is safe to assume that for now and until some catalyst appears, the stock will mimic the same pattern, meaning that for the time being 3.21 and 3.45 are the parameters in place. I do not see that changing this week. The probabilities of a breakout are higher than a breakdown but even then, more good resistance is found at 3.55/3.66. Probabilities this week favor "more of the same".

CVS generated a positive reversal week, having made a new 3-week low and then closing green and near the highs of the week, suggesting further upside above last week's high at 55.24 will be seen this week. If that occurs, the positive reversal will become the second successful retest of the 51.77 low seen in May and will strengthens the idea that the stock has found a bottom to the 4-year downtrend and that a breakout is imminent. The stock has now generated 4 weeks in a row of sideway trading with a very slight downward bias but given that the bears have been in total control for the past 4 years, the inability to push lower continues to increase the chances of a breakout occurring soon. In addition, the close on Friday near the highs of the week was the first close during this period of time when the bulls had the edge based on the close itself (other 3 times the stock closed in the lower half of the week's trading range), suggesting this might be the week it happens. Pivotal resistance is found at 55.75 and that is only $.51 cents above last week's high, meaning that the bulls don't need to do much to automatically generate new buying interest. The big level of resistance that needs to be broken is at 57.75 but based on the close on Friday, that level could be targeted this week. Support is now seen at last week's low at 52.76. Probabilities favor the bulls.

ENG generated the first red weekly close in the past 5 weeks and also the first week where the stock traded below the previous week's low. Nonetheless, this is not seen as a negative given that something like that was needed in order to build a new support level that can be depended on and from which to launch a rally to accomplish what still needs to be done to generate a true breakout. On a positive note, the stock closed near the highs of the week and further upside above last week's high at .92 is expected to occur and if that happens, last week's low at .81 cents will become the new intraweek support level from which another leg up can occur. It is important to mention that in spite of the red weekly close, no support was broken. In fact, if the stock generates a green weekly close next Friday above .92, two positive things will have occurred in the way of a new buy signal being given as well as a successful retest of the breakout weekly closing level at .88. Such action would likely bring in a lot of new buying. Probabilities favor the bulls.

FSLR made a new 13-month intraweek and weekly closing high and closed on the highs of the week, suggesting further upside above last week's high at 66.05 will be seen this week. This new high does improve the chart picture of the stock as it does negate totally the weakness seen the past year and helps paint a new outlook for the stock. It also makes the 58.80 level into a new intraweek support level of consequence. On the other side of the coin, the stock is approaching a strong level of weekly close resistance at $70/$71 that is unlikely to be broken at this time and that does suggests that the stock will get into a trading range between $59/$60 and $70/$71 that is likely to last at least 6 months. There is no intraweek resistance above until minor at 67.80 and then a bit stronger at 69.77 and a bit stronger at 72.10. As such, getting up to the $71 level is not likely to happen right away but over a period of 2-4 weeks. Support is found on a daily closing basis at 64.25. Probabilities favor the bulls.

IBM generated a negative reversal week, having made a new 7-week high but then closing in the red and near the low of the week, suggesting further downside below last week's low at 137.84 will be seen this week. It is important to note that the $140 demilitarized zone has proven to be a pivotal resistance/support level since November 2015 and having gotten up to 140.15 this past week and turning back down, suggests that without some positive fundamental catalyst, the stock will continue to be under bear control. The chart suggests that the stock will see some downside the next couple of weeks with support starting at 136.26 and down to 132.12, including the 200-day MA, currently at 133.22 that is not likely to be broken (on a daily closing basis) at this time, without help from the index market or from negative company news. As such, any drop down to that area should be considered for taking profits or simply covering the short. Any rally now above 140.35 would be a bullish sign. Probabilities favor the bears.

LNTH made yet another new all-time weekly closing high this past week and once again closed on the high of the week, suggesting further upside above last week's high at 28.37 will be seen this week. This is now the 8th new weekly closing high in the past 5 months and shows that the company remains a favorite of the bulls. The upside objective using general chart guidelines is the $30 to $31 level and that is now only $1.50-$2.50 away from last week's high. The previous all-time high daily and weekly closes, both at 26.07, is now considered support that if broken would give a failure signal. Probabilities favor the bulls.