ARNA generated a positive reversal week, having made a new 2-week low but then closing green and near the high of the week, suggesting further upside above last week's high at 48.55 will be seen this week. What is more important is if the stock does go above last week's high, last week's low at 44.94 will become the necessary/required retest of the recent 10-month low at 43.09. In addition, a bullish inverted Head & Shoulders formation will have been built and the neckline broken if that occurs, which in turn would offer an upside objective of 57.02. By the same token, resistance of consequence is found on a weekly closing basis at 50.93 and on an intraweek basis at the 200-day MA, currently at 51.50. Either way, the bulls presently have a small edge and this week should be a positive one for the stock. Likely pivotal support is now found at last week's low at 44.94.

AU made a new 4-month weekly closing low on Friday, given the better than expected Jobs report that caused money to go back into stocks and away from Gold. Gold did break a resistance level early in the week but then reversed and negated the breakout with the news. Nonetheless, Gold maintained itself above pivotal daily close support at 1460.80 and that left the door open for recovery this week if the expected rush to buy stocks does not occur. The stock stayed above a minor but somewhat important weekly close support at 18.44, also leaving the door open for recovery. By the same token, the signs in the charts of Gold and the stock are leaning negative and therefor the bulls need help to negate that action last week or further downside of some consequence is likely to occur. Evidently, the recent intraweek double bottom at 18.04 is pivotal. If broken or even seen, the probabilities of a break will increase strongly with a drop down to the $14-$15 level as the likely objective. A drop down to 18.56 is expected to be seen but that would not be seen as a negative. There is a triple high between 20.20 and 20.23 that if broken would give back control to the bulls. Probabilities slightly favor the bears given that strength of the Jobs report but by the end of Monday that whole scenario will be a lot clearer.

COF made a new 21-month intraweek and weekly closing high, leaving open air above for a rally up to the all-time high at 106.50. The stock closed on the high of the week, suggesting further upside above last week's high at 101.84 will be seen this week. There is no reason to hold on to the short positions as the chart and the fundamentals of the market call for higher prices. Nonetheless and as I said on Friday, holding on to the positions over the weekend made sense given that the same (or lower) exit prices could be achieved this week. Like with the indexes, Monday is important because if follow through is seen in the indexes (most likely), the stock is highly likely to reach the all-time high. The stock did gap up between 100.25 and 100.65 on Friday and if it does not gap up on Monday, that gap will be a magnet to be closed. Evidently, a red daily close on Monday would open the door for the bears, especially if below 99.70. Otherwise, covering of the short positions is the recommended action.

CRON generated an uneventful week but did go below the previous week's low, opening the door for a potential needed/required retest of the recent 6.04 low. A rally above last week's high at 7.00 would generate that signal. The stock closed exactly in the middle of the week's trading range, meaning there was no clue on Friday's close as to what the traders are looking to do this week. The chart spanning the last 2 years still suggests that the stock is in a trading range between $6 and $8 and for the reason alone, I would venture to say that the probabilities this week favor the bulls. Nonetheless, the trend is still down and therefore more action is needed before any short-term direction can be determined. Pivotal resistance is found at 8.05. Pivotal support at 6.04. Probabilities continue to suggest that the stock will trade between $6 and $8 for a few weeks and therefore nothing of consequence is likely to happen until after the New Year.

ENG failed to follow through to last week's rally and new 14-week weekly closing high, having once again closed below the 1.06 level that had been resistance for the same period of time. The stock closed near the low of the week, suggesting further downside below last week's low at 1.02 will be seen this week. By the same token, the recent 7-week intraweek low at .78 (weekly closing low at .96) has not yet been tested successfully and now that the stock went below last week's low, if a recovery occurs this week above last week's high at 1.12, that will occur and give the bulls new ammunition. Nonetheless, that is not a high probability this week, suggesting more base building and sideways trading is likely to occur. A weekly close below .96 or a daily close below .85 would be a negative. Probabilities favor more of the same as seen recently.

FNV made a new all-time intraweek high at the beginning of the week but then with the Jobs report coming in better than expected and Gold dropping, the bulls were unable to keep the stock up and a negative reversal week occurred. Nonetheless and even though the stock traded below the most recent low weekly close at 96.96, the bulls were able to close above that level (closed at 97.06) suggesting the door remains open for recovery if the bulls in the indexes are not able to make new highs this coming week. There is intraweek support at 96.23 but given that the stock closed near the low of the week and further downside below last week's low at 96.26 is expected to be seen, it is likely that the stock will go down on Monday, perhaps as low at 94.59. What is important on Monday is the close as a close below 96.92 will generate a new sell signal as well as a failure signal, opening the door for a drop down to $90-$92. Like with Gold, AU, and the indexes, Monday is pivotal.

GS generated a positive reversal week and a new 13-month intraweek and weekly closing high. The stock closed near the high of the week, suggesting further upside above last week's high at 225.40 will be seen this week. There is no resistance above until 234.06 so if follow through is seen on both the intraweek and daily closing basis, that would be the first target. Nonetheless and like with the indexes and Gold, Monday is important on a daily closing basis. There was a triple top on the daily closing chart so from that point of view, the break of resistance was likely to occur but as is the case all the time, confirmation of the breakout is needed, meaning that another daily close above 222.95 is required on Monday for the bulls to gain confidence this breakout is real. If the stock closes on Monday below 222.95, the bears will get new ammunition. Probabilities favor the bulls but the bulls must prove their ability to follow through.

SRUTF generated another red weekly close, the 7th in a row and the 16th out of the past 18 weeks. In addition, a new all-time intraweek and weekly closing low occurred, suggesting the bears remain in full control. There has been no new news in the Cannabis industry and chart-wise the stock is in a severe downtrend with no end yet in sight. There is very minor resistance at .20 and then nothing until .254 is reached, meaning that if the stock goes above those levels a signal that a bottom has been found will occur. Probabilities continue to favor the bears.