ARNA generated a new 5-month weekly closing low in spite of the rally in the indexes and closed near the lows of the week, suggesting further downside below last week's low at 52.15 will be seen this week. The inability of the bulls to accomplish any positive action to the upside in spite of a rallying index market strongly suggests that further downside is still "in the books". Nonetheless and as mentioned the previous week, there is important support on a weekly closing basis at 50.93 and that is only $2 below last week's close, meaning that the stock is now likely to start seeing some indicative buying as the stock nears that level and even more so as the stock goes below that level on an intraweek basis. The 200-day MA, currently at 49.51, remains a strong magnet based on last week's action and is likely to be reached but also likely to generate strong buying interest. That level and all the way up to the top of the $50 demilitarized zone (at 50.30) has to be considered a buying area. Indicative intraweek support is found at 47.92 as that was the low see just prior to the beginning of the run up to 64.48 and as such, should not be broken, suggesting a stop loss at 47.62 can be used. I do expect another red weekly close next Friday and likely to be around the 50.93 level but thereafter a new uptrend should begin.

AU generated yet another 6+-year green weekly close, the 2nd in a row since the weekly close resistance level at 21.91 got broken and the 5th in a row as far as green weekly closes are concerned. Nonetheless, for the first time in the last 3 weeks, the stock closed slightly in the lower half of the week's trading range, suggesting that either some profit taking is beginning to occur or the stock is reaching a level of resistance when selling interest is being seen. The stock did drop on Wednesday to test the weekly close breakout with a drop down to 21.94 and then generated a higher high and a green daily close on Friday, suggesting that 21.94 may now be a new intraweek support that if broken would suggest a mini correction is occurring. A stop loss at 21.65 can be considered, Nonetheless and on an intraweek basis, there is no resistance above until the $30-$31 level is reached but even then that resistance is more than 17 years old. There is however a 2-point trend line using previous highs over the past 5 years that connects around 25.85 and on a weekly closing basis, that may be the short-term objective. On a weekly closing basis, the previous high weekly close at 21.91 will now be support.

BABA generated an uneventful inside week but did close on the high of the week, suggesting further upside above last week's high at 175.25 will be seen this week. The stock has been in a wide trading range between $160 and $180 and the action last week is not yet indicative that anything new is happening. The stock shows intraweek resistance at 178.80 and pivotal at the recent 16-week high at 179.88. To the downside, support is found at 163.83 and then nothing until 151.83. The stock remains in the bearish flag formation with 147.95 as the pivotal support of the flag. Based on the chart, there is a small possibility of the stock getting up to as high as 184.70 and still remain in a bearish flag. Probabilities slightly favor the bulls this week.

COF generated a positive reversal week, having made a new 21-week low and then closing green and on the high of the week, suggesting further upside above last week's high at 87.27 will be seen this week. Probably most importantly, it does make the previous weeks close at 83.11 into a probable successful retest of the 200-week MA, currently at 84.08. The stock does show daily close resistance at 86.97 that if broken would give a new buy signal and give the bulls new ammunition. By the same token, the bulls did trade on Friday above that level late in the day and were not able to generate the signal, suggesting they need additional help in the form of follow through to the upside in the index market. Like with the indexes, the stock generated a gap on Thursday between 84.86 and 85.55 and that gap will remain a magnet unless the bulls can generate an additional gap this week and the indexes break their bearish inverted flag formations. If all of that occurs, the first upside objective would be the $90 level. At this time, probabilities remain slightly in the side of the bears.

CRON continued the recent downtrend, having made yet another multi-month intraweek and weekly closing low (6th in a row). The stock closed on the lower half of the week's trading range, suggesting further downside below last week's low at 10.58 will be seen this week. Nonetheless, some life was seen this week as the stock reached the low of the week on Thursday and did stay above that level on Thursday and Friday, which is the first time seen in the last 12 trading days. Using the chart, there is no support below until the $10 level is reached so it must be assumed that without fundamental news, that is the objective. Nonetheless, there is decent support at the $10 demilitarized zone not only from previous intraweek lows and closes but also from the 100-week MA, currently at 10.28. There is pivotal intraweek support at 9.57 that should not get broken unless there is a fundamental problem to the stock or to the Cannabis industry (unlikely on both counts). To the upside, intraweek resistance will now be found at 12.00, at 13.00, at 13.95 and at 15.30. Probabilities now suggest the stock will trade between the $10 and $15 level for the next few months. Probabilities once again favor the bears this week.

ENG generated the 3rd red weekly close in a row and below the minor weekly close support at 1.11 and the closing on the low of the week, suggesting further downside below last week's low at 1.04 will be seen this week. There is intraweek support found at 1.023 that if broken would suggest the psychological support at 1.00 will be seen. There is some very minor weekly close support at 1.40 and then minor to decent at the .99/1.00 level that at this time should not be broken on a weekly closing basis. The action seen has not been unexpected given that 6 weeks ago the stock got up to the 200-week MA at 1.16 and so far the bulls have not been strong enough to make the bullish statement that is likely to come in the not too distant future. For now and before another attempt at breaking that long term MA, it is likely that the bulls will need to retest and even strengthen the support at the $1 level. Intraweek support of consequence is found between .97 and 1.00 and short-term pivotal resistance is found at 1.18. Probabilities favor the stock trading in the range for the next 2-3 weeks.

ENTG generated a positive reversal week, having made a new 2-week low and the closing green and above the previous week's high, suggesting further upside above last week's high at 43.54 will be seen this week. The stock remains in a bullish chart pattern that favors the bulls. Nonetheless, it has now been 4 weeks in a row where the all-time high at 45.12 (43.98 on a weekly closing basis) has not been broken or even seen a close retest and that leaves the door open for the bears to do something if and when the index market doesn't break out. It is likely that at least the all-time high weekly close at 43.98 will be seen this week and what happens there is likely to be indicative. Pivotal support is found at 39.86 that is broken would shift control to the bears. Probabilities favor the bulls this week.

FNV generated yet another new all-time intraweek and weekly closing high this week with this one being the 5th new all-time high weekly close made in the past 7 weeks. The stock closed in the upper half of the week's trading range, suggesting further upside above last week's high at 99.14 will be seen this week. Nonetheless, the stock is now fully into a strong psychological resistance at the $100 level and unless the index market continues higher and/or the Fed on September 18th does not lower interest rates, this area will be difficult to get above more than $3 above the $100 level. Minor but possibly short-term indicative support is now found at 96.08 and stronger and more pivotal at 90.12. Probabilities continue to favor the bulls.

MDT increased its recent rally, having made a new all-time weekly closing high but on an intraweek basis, the stock generated an inside week though with a close in the upper half of the week's trading range, suggesting further upside above last week's high at 108.70 will be seen this week. Resistance is found at the all-time intraweek high at 109.70 and short term pivotal support is found at last week's low at 105.55. The idea of a spike high top has been put to rest based on last week's action so the traders will not be looking for either a continuation of the uptrend or a successful retest of the recent high and a mini correction to retest the previous all-time high weekly close at 102.55 or even perhaps as far down at the first all-time high weekly close 98.37 that is more important. As such, this week is taking on a bit of a short term pivotal scenario. Probabilities slightly favor the bulls.

SRUTF got down close to the important 10-month intraweek support at .266 with a drop down to .274. Nonetheless, some buying was seen at that level given that the stock rallied the last 2 days of the week and closed near the high of the week, suggesting further upside above last week's high at .032 is expected to be seen this week. The bounce is not yet sufficient to negate the bear control as a daily close above .33 is needed for the bulls to gain even a very slight edge. Nonetheless, this was the first time in the last 14 trading days that anything green on the daily chart has been seen and suggests that it is possible the worst is over. Important intraweek support remains at .266 and minor resistance is found at .226 and then a bit stronger at .377. Probabilities slightly favor the bulls this week.