ARNA generated a minor negative reversal week, having gone above the previous week's high but then closing red. Nonetheless, the action was muted and nothing was broken, suggesting that the stock will trade within a narrow trading range between 45.00 and 48.50 for the rest of the year. Short-term pivotal support is found at 44.94 and longer term pivotal support is found at 43.09. Short term pivotal resistance is found at 49.75 and longer term at 50.33. Probabilities favor the stock being in a sideways trading range for the next 3 weeks.

AU made a new 4-month intraweek and weekly closing high last week and closed slight in the upper half of the week's trading range, suggesting a slightly higher possibility of going above last week's high at 21.12 than below last week's low at 18.63. The stock did get a positive rating report from Moody's that helped the rally but mostly it was the fact that Gold rallied to close $16 above the previous week's close, suggesting that the recent weakness is over and that the traders will await further news at the beginning of the year, the same as the traders in the index market. Minor to perhaps decent intraweek support is found at 18.56 and pivotal support at 18.04 and minor to decent resistance is found at 21.74 and pivotal at 22.93. Probabilities favor the stock trading within that inner range for the next few weeks.

COF made a new 21-month intraweek and weekly closing high and closing near the high of the week, suggesting further upside above last week's high at 104.95 will be seen this week. The all-time high weekly close is at 105.43 (intraweek at 106.50) and one or both are targets to be seen this week. Nonetheless and just like with the index market, it is unlikely that much further upside will be seen until the New Year, suggesting that the stock will get up to the all-time high but not break it and trade sideways to lower for the next few weeks as new news is awaited. Minor to decent weekly close support is found at the $100 demilitarized zone and that means that the probabilities favor the stock trading between $100 and $105.50 for the next 3 weeks. On an intraweek basis, the upside could be as much as 106.50 and the downside as much as 98.23. Probabilities favor the bulls this week but only for a small gain.

CRON made a new 3-week high and closed in the green and near the high of the week, suggesting further upside above last week's high at 7.57 will be seen this week. In addition, the green weekly close makes last week's close at 6.71 into the required/needed retest of the recent 14-month weekly closing low at 6.28, which in turn suggests that at least for the short term that a bottom to the downtrend has occurred. In addition, a buy signal on the weekly closing chart was also generated, having closed above the most recent high weekly close at 7.07. On an intraweek basis, there is no resistance above until 7.94 to 8.13 level is reached, meaning that the probabilities strongly favor that area being reached this week. By the same token and on a weekly closing basis, there is minor to perhaps decent resistance between 7.23 and 7.37 and given that the stock closed on Friday at 7.28, it does mean that next Friday's close has some short-term importance because on a weekly closing basis, there is no resistance above until the 8.18-8.48 level is reached. This means that if the stock closes next Friday at least 10 points above 7.37 that on an intraweek basis, further upside above 8.13 is likely to be seen. Intraweek support is now found at the previous week's low at 6.37, meaning that a stop loss can now be placed at 6.27. Probabilities favor the bulls this week.

ENG did generate some follow through to the downside to the previous week's weakness with an intraweek drop down to .99 and a weekly close $.03 cents lower than the previous week. The stock did close near the lows of the week and further downside below .99 is likely to be seen this week. Some minor intraweek support is found at .98 and then nothing until .90, so this area is short-term indicative. By the same token, the bulls were able to close above $1,00 on Friday, which in turn suggests that the stock is more likely to trade sideways between .98 and 1.10 for the next 3 weeks than not. A break below .78 or above 1.12 would be indicative. Probabilities favor a sideways trading range.

FNV had an uneventful inside week and continued to trade sideways between 96.94 and 98.32 (based on weekly closes). The fact that Gold generated a small but short-term indicative rally does give the bulls the edge this week. Pivotal support remains at 96.23 and resistance at 99.59. If any of those levels are broken, further movement in that direction is likely to be seen. Nonetheless and though the bulls have a small edge, probabilities favor sideways action between $97 and $99 for the next few weeks.

GS confirmed the breakout above the weekly close resistance at 222.91 that occurred the previous week, having generated a second close in a row above that level. The stock closed slightly above the middle of the week's trading range, suggesting further upside above last week's high at 227.99 is slightly more likely that a drop below last week's low at 220.55. Nonetheless, with the indexes trading at new all-time highs but the stock still trading 18.3% below its all-time high, suggests that the recent strength seen is more about the market than it is about the stock. In addition, the stock did not get anywhere close to the next intraweek resistance area between $230 and $234 and given that there is open air above at this time, it is a bit negative that the bulls were not able to accomplish more this past week. As far as support is concerned, there is minor support at the $220 level and then nothing until the $210-$214 level is reached. The stock did generate a negative reversal day on Friday, having reached the recent high that day and then closing red and near the low of the day, suggesting the first course of action for the week will be to the downside and below Friday's low at 223.70. The stock is showing a gap between 217.63 and 218.82 that is not supported by news, meaning that it is a magnet for the traders as long as no new positive fundamental information for the stock or the indexes comes out (unlikely). As such and even though there is a slightly higher possibility of going above last week's high than below last week's low, I believe the probabilities favor the bears this week.

IBM generated a rally above the previous week's high and a green close as well but the bulls accomplished nothing in the way of resistance levels getting broken. The stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 133.26 and above last week's high at 135.66. Short-term pivotal resistance is found at 136.15 and short-term pivotal support is found at 130.69. If either of those levels get broken, further movement in that direction is likely to be seen. By the same token and as with the index market, it is unlikely that any big decisions will be made during the next 3 weeks, suggesting a trading range between $131 and $136 is the most likely scenario. Then again, the stock is clearly in a downtrend and that means that the bears continue with the edge, meaning that if there are any surprises, they will likely be to the downside.

SRUTF generated the first green weekly close in the last 8 weeks and did close on the high of the week, suggesting further upside above last week's high at .1756 will be seen this week. With CRON giving a small buy signal, it does suggest that the selling pressure in the Cannabis industry is at least "on a pause" and that some short-covering action might be seen across the board. The stock did generate a positive reversal day on Friday, having made a 3-day low and then closing above the previous days high, meaning that the bulls are likely to have the edge at the beginning of the week. Minor resistance is found at .18 and then a tiny bit stronger at .189 and then again at .202. Nonetheless, any break above .202 will like generate a rally all the way up to .254 and such a rally would be a clear signal that a bottom to the downtrend has been found. Support is now found at .14 and at .145 that if broken, would mean the bears remain in clear control. Probabilities slightly favor the bulls this week.