AU generated an inside week but an indicative one, given that the stock failed to follow through to the downside after having closed near the low of the week the previous week but more important because the green weekly close made the previous week's close at 27.90 into a successful retest of the previous multi-year high weekly close at 27.95. This means that the correction seen was not weakness but simply a retest of a previous breakout as well as building of a new support level from which the uptrend can resume. The stock closed on the high of the week and on the weekly chart there is absolutely no resistance above until the recent intraweek high at 38.50 is reached. On a weekly closing basis, resistance will be found at 34.61 as that is the 8-year high weekly close. Using the daily chart for more short-term resistance levels to watch, the first one is at 30.78. A break of that level (now likely) will open up the door for a rally to the next resistance level at 32.25 and a break of that for a run up to 33.75. Above that level, there is total open air until 38.50. Pivotal support is now found between 27.31 and 27.89. Probabilities strongly favor the bulls.

AXP generated a 12-week high weekly close and closed near the high of the week, suggesting further upside above last week's high at 102.90 is expected to be seen this week. In addition, the stock closed once again above the 200-week MA, currently at 99.77, and this is the second time in the past 3 weeks that has occurred, meaning that the bulls now have a clear edge. By the same token, the most recent intraweek high seen 3 weeks ago at 105.70 was not broken and that remains a pivotal resistance level that the bulls must overcome to take control of the chart. More importantly, the 200-day MA is currently at 105.41.and that line has not been broken to the upside since June 8th and then broken only once for 1 day since February. With the DOW likely to find resistance this coming week and from which a correction is likely to begin, the stock may find the same situation with the 105.70 resistance level. It is important to note that the bulls "need" to break that level or disappointment will be the end result, which in turn would likely give the bears back the control they have had for the past 6 months. Pivotal support is now found at 95.68. Probabilities favor the bulls this week but only for a rally up to the 200-day MA.

BTZI generated an inside week with no follow through to the downside in spite of last week's close near the low of the week. The stock is presently idling. The last 2 days of the week it traded within a $.01 trading range. Traders await news before doing anything. For now, this type of action is likely to continue. On a daily closing basis, the .031 level is a short-term pivot point to the upside and the .0291 the same to the downside and that is exactly the trading range that was seen the last 2 days of the week. The .027 and the .037 are stronger pivot points that if broken would be indicative. Probabilities favor more sideways trading.

CAT generated a new 7-month weekly closing high on Friday and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 145.85 is likely to be seen this week. Nonetheless, the intraweek high seen 3 weeks ago at 146.20 was not broken and on Friday when the high for the week was made, the stock sold off $2.22 cents from the high of the day, to close just a decent weekly close resistance level from 16 months ago at 143.36 (closed on Friday at 143.63), meaning that the traders are not only paying attention to the chart but also depending on the indexes (namely the DOW) going higher. With the index likely to reach an area of resistance this week that will be difficult to break above and also because a correction is likely to start this week or the following, it is going to be difficult for the bulls to gain much further upside. Strong resistance is found up around the $150 level. Probabilities still favor the stock being in a trading range between $135 and $145 with a possibility of getting as high as $147. Nonetheless, up between $145 and $147, the stock is a decent sell option, using a stop loss at 150.65 and having a downside objective of $112. Such as trade offers a 6-1 risk/reward ratio.

CNX generated a positive reversal week, having made a new 3 week low and then closing green and near the high of the week, suggesting further upside above last week's high at 11.63 is likely to be seen this week. On Wednesday, the stock generated a daily close at 10.73, followed by 2 green daily closes in a row. This is important as in May and June the stock generated 3 high daily closes between 10.70 and 10.76. This means that the stock remains well supported and with more buying interest than sell interest. The key issue remains the 200-week MA, currently at 11.97, which was tested successfully 4 weeks ago. A break of that line, which has not been broken to the upside since November 2018, would be a bull statement. With last week's intraweek low at 10.65 now likely to become support (if the stock goes above last week's high this week), the bulls seem to be set for a breakout this week or next. Probabilities favor the bulls.

CRON generated a positive reversal week, having made a new 16-week low and then turning around to close green and on the high of the week, suggesting further upside above last week's high at 5.70 will be seen this week. More importantly, the previous week's break of the 3-month weekly close support at 5.42 was negated, having closed on Friday at 5.63. In addition, there is now a double bottom on the weekly closing chart at 5.26 and 5.31 that if confirmed this week with another green weekly close, will give the bulls' new ammunition. The intraweek support at 5.12 that I mentioned last week was not broken as the low for the week was 5.22. What all of this means is that a support base of consequence has been built that is not likely to get broken without some new fundamental negative coming out. By the same token, the action seen does not yet support the upside for anything else that further sideways trading that has been in effect now for the past 6 months. The top of the sideways trading range based on weekly closes is around the 6.70 level. It is likely a rally back up to that level will now be seen. Probabilities favor the bulls this week.

ENG generated a totally uneventful inside week with a weekly close exactly the same as the previous week (at .83). As such, there is no new comment this week. Here is the comment from last week. There is quite a bit of established intraweek support between .73 and .75 that should stop the down move. On a weekly closing basis, support is decent between .76 and .80. Any green weekly close at this time would suggest the worst of the correction is over. By the same token, the fundamental picture does not suggest the stock will be heading any lower than .73, meaning that either this week or at the latest the following week, that the bulls will be back in buying. As stated last week, the stock is now showing 5 spikes up to a downtrend line that started 11 years ago and usually there are 5 spike up (followed by drops) before a true breakout occurs. With the now 5-point trend line at 1.58 and the stock having rallied to 1.55 a few weeks ago, it does suggest that after this fall ends, the next rally will be "the one" and sustainable. In spite of the drop in price after the report, no long term support levels were broken. After a few weeks of retesting support and building new confidence, the stock should resume the uptrend. Probabilities for this week are 50-50 but for the week after, they at 80-20 in favor of the bulls.

MRNA generated a positive reversal week, having made a new -7-week low but then going above the previous week's high and closing green. The stock closed slightly in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 71.64 than below last week's low at 62.88. I did state last week that the stock was likely to drop to test the 100-day MA, currently at 63.11, and that is now a done thing. That line has been a constant support line since October of last year and once again it has been tested successfully with last week's low at 62.88. The stock closed on the low of the day on Friday and the first course of action for the week is likely to be to the downside, suggesting a retest of last week's low will occur. Support is found around 65.00 and a new purchase of the stock around that level, using a stop loss at 62.68 and having an upside objective of $87, would offer a risk/reward ratio of 12-1. Stock continues to receive good fundamental news and it is highly unlikely that anything negative will happen until the results of the Phase 111 clinical trials come out and then only if they are negative. Those are not likely to come out for another 2-3 months. If there was anything possibly not-as-positive as the bulls would have liked is that the failure signal against the bulls remains in place as the previous all-time high at 69.00 was not broken even though the stock traded as high as 71.64 this past week. This does suggest that the bulls are still not back in control, not even short term. This likely means another week of the stock trading around the $69-$70 level. Nonetheless, with now a clear established support level at 62.88, the probabilities now favor the bulls.

NEM generated a positive reversal week, having made a new 2-week low but then closing green and on the high of the week, suggesting further upside above last week's high at 67.09 will be seen this week. If that occurs, last week's low at 63.26 will become a successful retest of the most recent low at 62.65 and that would mean a new support level of importance has been built (previous one was at 54.76). This will give the bulls a new level of support from which to launch another resumption of the uptrend where limitation of risk is clear. Intraweek resistance of some consequence is found at 69.13. It is likely that level will be reached this week or next. What happens there will be at least short-term pivotal. A break of that resistance is likely to mean a new all-time high will be made. Probabilities favor the bulls.

QQQ generated another new all-time intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 293.85 will be seen this week. The runaway freight train pattern that is being seen (no valleys) does suggest the index will continue higher until it no longer does or a negative catalyst occurs, which presently is not expected. Intraweek support is presently found at 264.63 that if broken would be a sign of a top having been found. That is not likely to occur this week. By the same token, the NASDAQ is likely to reach a potential upside objective based on past action this week or news with about an additional 2.4-3.8% rally potential, suggesting the $300 level is likely to be the top to this rally. Probabilities favor the bulls.

SRUTF generated a positive reversal week, having made a new 2-week low and then going above the previous week's high and closing green and in the upper half of the week's trading range, suggesting further upside above last week's high at .0722 will be seen this week. The action being seen does show an increase in volume which suggests an increase in buying interest. A weekly close below .05 is needed for that to change. Upside objective right now is a minimum run to .08/.087 where some resistance is found. The high seen 3 weeks ago at .09 is now pivotal resistance that if broken would like cause the stock to test the 200-day MA, currently at .10. The 200-day MA is currently a .0927 and that line has not been seen and much less broken for the past 14 months. At this time though, it does suggest that a retest of that line will occur sometime over the next few weeks. Pivotal support is now found at .04. Probabilities favor the bears this week but still within a mini short-term breakout scenario.

W generated a key negative reversal, having made a new all-time intraweek high but then going below the previous week's close and closing red and on the low of the week, suggesting further downside below last week's low at 310.45 will be seen. For the stock to have had this kind of negative reversal on a week when the indexes continues higher, suggests that the stock has found a top to this rally and is now in a corrective phase. There is no support below until 283.51 is reached. Probabilities are high that level (or close to it) will be seen. There is an open gap between 267.43 and 272.10 that will be a target for testing if the 283.51 support level is broken. Closure of the gap would be a strong short-term negative as it is considered to be a runaway gap in a breakaway/runaway gap formation. The $324-$326 level is now resistance. Probabilities strongly favor the bears this week for further downside, if not all the way down to the $283.51 level.