AU generated a new 8-week green weekly close and closed on the high of the week, suggesting further upside above last week's high at 21.87 will be seen this week. There is decent daily close resistance between 22.14 and 22.65 and then nothing until the 7-year high daily close at 23.50. On an intraweek basis, there is copious resistance between 23.26 and 23.85 that can be considered multiple highs and likely to be broken. This is even more evident on the monthly closing chart that shows 4 monthly closes between 21.91 and 22.75, which strongly suggests that the area will get broken and likely sooner rather than later. Such a break to the upside should be used to take profits as the exact opposite occurred a few weeks ago occurred when the triple bottom at $17 got broken and the stock dropped down to the $12 level. That break to the upside could occur this week but probabilities do not favor it happening now but in a couple of weeks and then only after Gold breaks the resistance at $1797. The stock has been one of the laggards among Gold stocks and as such, should be the first stock to take profits on when the time comes. Support on a daily closing basis and that should no longer be broken is found at the 200-day MA, currently at 19.80. This is also strengthened by the fact there is a breakaway/runaway gap formation in place with the runaway gap being between 19.44 and 20.25. Simply stated, closure of the runaway gap will weaken the chart at this time. The bulls are committed to new multi-year highs now and anything less with a drop down to 19.44 would be a decent negative. Probabilities favor the bulls.

AXP made a new 3-week high last week but the bulls were still unable to break above the most recent intraweek high at 99.69, having gone up last week to 97.85. This is likely indicative as the indexes have been successful in breaking the same highs made 3 weeks ago. The stock did close in the upper half of the week's trading range and further upside above last week's high is expected to be seen. Nonetheless, there is also a second resistance level at 100.08 that strengthens that resistance area considerably and with the 200-week MA currently at 96.60, for all of this resistance area to be broken, a strong positive fundamental change would need to occur (unlikely). The stock generated a gap on Friday between 93.00 and 93.46 but given that it is a 3rd gap, it is likely to be closed on Monday, especially since the stock closed near the lows of the day on Friday and further downside below Friday's low at 93.46 is expected to be seen. There is no support below whatsoever until minor support at 81.11 is reached. By the same token and as seen in the index market, the runaway gap of a breakaway/runaway gap formation is found between 87.42 and 84.25 and that level should give some support until the runaway gaps in the indexes are closed as well. If that does occur, the breakaway gap at 76.66 will be targeted for closure. The chart continues to lean strongly to the downside with the $100 demilitarized zone as a pivot point resistance to the upside. Probabilities favor the bears.

CAT generated another green weekly close (3rd in a row) and did close in the upper half of the week's trading range, suggesting further upside above last week's high at 129.60 is expected to occur. By the same token, the stock generated a negative reversal day on Friday, having made the weeks high and then closing red and near the lows of the day, suggesting the first course of action for the week will be to the downside and below Friday's low at 123.15. There is no intraweek support below until 118.74/119.03 is reached and the probabilities favor that scenario of a drop down to that price before any new buying interest appears. There is an open gap at 116.84 that is a magnet that is not supported by an original breakaway gap and therefore likely to be closed. If that occurs, the next support level of consequence is at 111.75. if that level is reached, last week's low at 118.13 would have been broken and a sign that a top to the rally has occurred would be given. It is important to note that the intraweek resistance is minor at 129.56 but will gain some strength if the stock gets below Friday's low on Monday. It also needs to be mentioned that the 200-week MA is currently at 123.65 and given that the stock did close slightly above that level on Friday, another green close next Friday would confirm the negation of that break. The 200-day MA is currently at 131.20 and all of these levels of resistance, as well as the straight up rally from the recent lows, make this entire area into decent resistance and unlikely to be broken without a positive fundamental change. Probabilities favor the bears with the only question at this time is whether the stock will first get above last week's high or start to fail before that happens.

CRON had an inside week but generated a green weekly close, meaning that the previous week's close at 5.51 is now a successful retest of that 26-month low weekly close support that was broken 5 weeks ago but then negated the following week. The stock did close slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 5.57 than above last week's high at 6.23. Nonetheless, on an intraweek basis that would be a possible positive for the bulls as the recent 4.00 low has not yet been tested on an intraweek basis and any drop below last week's low would take on the possibility of being just that. Intraweek support is found at 5.12 and at 4.79, one of which is likely to be seen this week. By the same token, the bulls need to once again close next Friday above 5.51 or new weakness would reenter the stock. Daily close resistance is found at 6.32 that if broken and confirmed, would suggest the downside is over, especially if that occurs after an intraweek drop below 5.57 is seen this week. Probabilities slightly favor the bulls.

ENG generated a 2nd in-a-row inside week but this time a green weekly close occurred. Nonetheless, neither the inside week or the green weekly close accomplished any new clarity in the stock, keeping the stock is the same scenario as mentioned the week before. The double low at .51/.49 has not yet been successfully tested, meaning that a drop below the previous week's low is still a likely scenario. Last week's low was at .64. 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.

FNV generated another green weekly close (the 4th in a row) and closed near the highs of the week, suggesting further upside above last week's high at 115.95 will be seen this week. With Gold likely to continue higher, the probabilities remain high that the stock will continue higher as well. One negative that has affected the stock more so than other gold stocks is that FNV is a company that makes more profits off of loaning money to Gold producers than what makes off of Gold appreciation in value and with interest rates now lowered by the Fed to close to zero, the stock has lost its leadership in the Gold area. This does suggest that even if Gold continues higher (likely), that the stock itself may not be able to break its all-time intraweek high at 122.65. The chart does suggest that the stock is likely to get up to the $117-$120 level if Gold continues higher but consideration should be given to at least taking partial profits on such a rally. This is especially true given that there is no close buy support until 103.39 is reached and any failure to make a new all-time high at this time (this week or next) would mean a drop back down to that level would likely occur and that would mean about an 11% drop from a $117 high. Probabilities favor the bulls but because this stock depends more in loans than in Gold, taking profits should be considered.

MCIG generated another non-eventful inside week (the 4th in a row), having traded in a very narrow $.005 trading range. The stock did generate a green weekly close after 6 red weekly closes in a row but given that no resistance levels were broken, it is an uneventful occurrence. 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 made a new 8-year high and did it in a spike up fashion and breaking a minor to decent intraweek spike high at 57.05 from September 2012. The stock closed on the high of the week and further upside above last week's high at 57.70 is expected to be seen. The stock is showing open air until 61.84 is reached but from that level and up to 64.62 the resistance is decent and copious with the stock spending a total of 6 months in that area back in 2006, 2010 and 2012. Gold would need to break above $1797 and move to the all-time high at $1911 in order for this resistance area to be broken as well and the stock head up to the all-time high at 71.54. As such, consideration to taking profits or at least partial profits should be given on any rally above $62. Daily close support is now found at the previous multi-year high at 52.35. Probabilities favor the bulls.

QQQ generated a new 5-week high and closed on the high of the week, suggesting further upside above last week's high at 203.23 will be seen this week. The stock has been outperforming its index, having broken above the resistance seen at 195.55, the same resistance at 8336 that has so far stopped the NASDAQ. Nonetheless, the stock did get up to the 200-day MA, currently at 200.30, on Wednesday and the bulls were not able to generate much upside thereafter, having closed at 200.57 on Thursday and at 200.86 on Friday and therefore and even though technically the MA was broken, no bull statement has been made. The stock did close in the lower half of the day's trading range on Friday and the first course of action for the week is to the downside and below Friday's low at 199.03. If that occurs and the stock closes red and below 200.30 on Monday, further downside would then be expected as there is no support below until 192.11 is reached. Just like with the index, the stock is showing a breakaway/runaway gap formation with the runaway gap between 187.07 and 189.16, meaning that if the stock closes red on Monday, a drop down near the $189 level will likely occur. There is pivotal intraweek resistance at 204.30 that if broken, would suggest further upside is to come. Nonetheless and in spite of the stock outperforming the index, the index is still the "daddy" and the stock will follow the index rather than the other way around. As such, the 204.30 level is pivotal resistance at the 192.11 level pivotal support. Probabilities very slightly favor the bears.

SRUTF continued the now 50-week strong downtrend, having made a new all-time intraweek and weekly closing low on Friday. The bulls have been absent from the stock every step of the way during the last 50 weeks and no end is in sight. Nonetheless, with CRON likely to give some signal either this week or the next, it is likely that the stock will somewhat follow what CRON does. At this time though, there is nothing even close to possibly positive with the stock. No other comment possible at this time.