CAT generated another green weekly close and did close in the upper half of the week's trading range, suggesting further upside above last week's high at 118.52 will be seen this week. In addition, a failure signal against the bears was given when the stock closed on Friday above the weekly close breakdown point at 114.06 (closed at 114.67). Nonetheless and like all other signals, it needs to be confirmed with another close above 114.06 this coming Friday to have any validity. As it stands right now on the chart, the bulls are likely to take the stock up to close the gap seen at 118.83 that they failed to close this past week. Closure of the gap is not a big positive as it is a simple gap (not a breakaway/runaway gap) but a failure to close the gap this week would likely be a strong negative as the bulls have everything set up to do so. The stock is showing pivotal intraweek support at 109.50 (110.25 on a daily closing basis) that if broken, the bears would regain at least short-term control. Either way and based on the fundamental picture, it is difficult to see the stock going up much higher as the stock is still within the confirmed bear market signal given a few weeks ago that would require a confirmed weekly close above 120.44 to negate. In addition and even if the gap up at 118.83 is closed, the probabilities of the stock getting back down next Friday to test the negation signal at 114.06 is high. As such, I do believe the bears are still in control on a mid to long term basis and short positions should be held.

CRON reported earnings this week and they were lower than anticipated. The mini breakout seen the previous week on the weekly chart when the stock closed above 6.28 was negated (not confirmed), leaving the traders in limbo. By the same token, no new sell signal was given since the recent low weekly close at 5.26 remained unbroken. In fact, the stock closed on Friday at a weekly closing level of great importance at 5.51, having closed on Friday at 5.52. That was the previous low weekly close that held up for 2 years before being broken a couple of weeks ago. As such, it is considered indicative support. The stock did close in the lower half of the week's trading range, suggesting further downside below last week's low at 5.14 will be seen this week. Nonetheless and considering that the 28-month intraweek low at 4.00 has not yet seen a retest of it, a drop below last week's low could be a positive thing as it would be the required/needed retest of the low. Evidently and because the stock closed at a previously important low weekly close, the bulls want (perhaps need) a green weekly close to occur next Friday. As such, a positive reversal week is what the bulls need. Intraweek support is found at 4.79 that is likely to be seen this week. From that level, buying interest should occur. Personally, I do believe this scenario will occur and therefore by the end of the week, probabilities favor the bulls.

ENG generated an inside week but a red weekly close, meaning that the recent positive earnings report has not been able to generate strong buying interest yet. 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 .64 than above last week's high at .80. Nonetheless, there is minor to decent daily close support at .68 that should hold up. Pivotal daily close resistance is found at .80, meaning that using the daily closing chart, the .68 and .80 levels are pivotal short-term support and resistance this week and whichever one is broken will likely generate at least an $.08-$.010 move in that direction. Based on the positive earnings report, I would say probabilities favor the bulls. In addition and if the indexes do not collapse this week (unlikely), any dip below last week's low at .64 is an opportunity to add or buy new positions.

FNV generated a positive reversal week, having gone below last week's low and then closing green and in the upper half of last week's trading range, suggesting further upside above last week's high at 111.64 will be seen this week. In addition, last week's low at 95.33 will be considered a necessary/required retest of the 77.18 low seen 3 weeks ago, meaning the chart would be fulfilled for further upside. The stock did generate a failure signal against the bears, having closed on Friday above the previous low weekly close at 107.50 (closed at 107.95) that when broken caused the stock to fall to 77.18. If confirmed next week with another green weekly close, the all-time high at 122.65 would become a short-term target for at least a retest if not a break and a new all-time high made. Pivotal intraweek resistance is found at 114.75 that if broken would give the bulls the necessary ammunition to fulfill this scenario. Pivotal support is a last week's low at 95.33. It must be mentioned that there is an open gap on the chart between 103.35 and 103.75 that should be targeted for closure at some point this week. Probabilities favor the bulls this week.

MCIG generated another non-eventful inside week (the 3rd in a row), having traded in a very narrow $.006 trading range. The stock did generate another red weekly close (the 6th in a row) but the weekly close support level at .25 remained untouched and unbroken. As such, I have no new comments this weekend regarding short-term (up or down) at this time. Nonetheless, the .25 level remains a very strong pivotal support level that in effect should not be seen again as it would mean a triple bottom would be built, that normally would be broken. The stock is showing short-term pivotal resistance at .4 that if broken would confirm the double low and give the bulls' new ammunition. With CRON having what seems to be a pivotal week ahead, the same can be said about the stock. Chart parameters remain clearly defined at .25 (support) and .4 (resistance). Probabilities slightly favor the bulls.

NEM confirmed the negation of the break down point at 44.63, which drove the stock down to the 33.00, with a second green close above that level on Friday. The stock closed exactly in the middle of the week's trading range, suggesting an equal opportunity of going below last week's low at 44.59 than above last week's high at 49.75. Pivotal intraweek resistance is found at 50.29 and pivotal intraweek support is found at last week's low at 44.59. The stock has been the strongest of the gold stocks and is showing a clear and bullish flag formation with the flagpole being the rally from 33.00 to 50.29 and the flag the drop back down to 44.59. A break above the top of the flag at 50.29 offers a 61.88 objective. The stock did close on the lows of the day on Friday, meaning that the first course of action for the week is likely to be to the downside with 45.75 as a downside objective (give or take $.20 cents). Nonetheless, Gold continues to look positive and so does this chart, suggesting that the probabilities favor the bulls.

QQQ generated a negative reversal week, having made a new 3-week high and then closing red and near the low of the week, suggesting further downside below last week's low at 180.86 will be seen this week. The red weekly close made the previous weeks close at 185.30 into a successful retest of a previous high weekly close of importance at 186.95 as well as a successful retest of the 100-week MA, currently at 185.35. This does suggest that the recovery/bounce rally is over and that the lows will now be tested before any new buying interest is seen. The stock is showing an open gap below between 174.21 and 177.95 that should be targeted for closure this week. There is no established intraweek support until 169.16 is reached. In that area between $169 and $175, some buying interest should be found, meaning that taking profits can be considered. Short-term pivotal resistance is now found at 190.10. Probabilities favor the bears.

SRUTF generated an uneventful inside week but did generate a minor red weekly close, meaning the bears remain in control. By the same token, the stock has now traded for 3 weeks in a row around the $.07 cent level, meaning that the selling interest in this area has waned. Given that this is a Cannabis stock, watching CRON might give a clue to as whether some upside or more downside is to come. No other comment possible at this time.

W generated an inside week but a green weekly close as well as a close in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 55.31 than below last week's low at 43.61. Nonetheless, the company received a downgrade this past week with a $35 target price and there has been no news since that downgrade occurred, suggesting the bulls will have problems generating any rally of consequence. Nonetheless and for some unknown reason, the bulls were able to close above a decent weekly close resistance level at 49.53 that was established in 2015 and held up for over 1 year. Having closed for 2 weeks in a row below that level, this close could be indicative as it is a mini short-term breakout if confirmed with another close above that level next Friday. If that occurs, there is basically open air until the next weekly close resistance at 61.27, which was the support level that got broken that took the stock down to 21.70 and that was also tested the previous week with an intraweek high at 61.59. The stock has proven to be extremely volatile, therefore a favorite for day and short-term traders to trade and manipulate on a very short-term basis. One additional possible negative is that the chart is showing a bullish flag formation that if broken (a rally above the previous week's high at 61.29) would offer an $81 intraweek objective. By the same token, if the bottom of the flag at 43.61 is broken, it would negate the flag. There is an open gap below between 30.76 and 33.29 that should be a magnet given the likely direction of the index market and the lack of positive news on the stock. As such and though the probabilities favor the bulls this week, this is certainly a stock that because of the volatility, probabilities are almost a flip of a coin. I would tend to cover the short positions on Monday on a dip unless the indexes break their short-term supports or the stock generates a daily close below 46.30.