AXP generated a green weekly close but a very minor one given that the previous week's failure signal when the stock closed below a previous high weekly close of some consequence4 at 94.92 was confirmed with a close at 94.45. The stock closed near the low of the week and further downside below last week's low at 93.34 is expected to be seen this week. There is an open gap on the weekly chart at 91.43 that was not closed this week but that remains a viable target. Nonetheless, the previous week's low at 92.45 is now seen as a new (but minor) support level that will gather buying interest if the indexes continue higher. If broken though, the gap on the weekly chart will likely be closed. On the daily chart, the stock is still showing a breakaway/runaway gap formation with the runaway gap between 89.95 and last week's low at 92.45 that if closed, would suggest the breakaway gap down between 83.39 and 85.92 will be targeted. The probabilities of the weekly gap at 91.43 being closed are high but the probabilities decline substantially regarding the breakaway/runaway gap formation being closed, at least not until the company reports earnings on July 24th. As such, if the stock does get down to 91.43 this week but not down to 89.95, consideration should be given to taking profits and looking to re-short on a rally. By the same token, if the stock gets down to 89.95, holding the shorts for further downside would be the recommended thing to do. Resistance will now be minor to perhaps decent at the $100 demilitarized zone. Probabilities favor the bears this week.

CAT generated a positive week with a green close and a close in the upper half of the week's trading range, suggesting further upside above last week's high at 130.34 is likely to be seen. By the same token, the chart is showing insecurity on both sides (bulls and bears) given that for the past 4 weeks the stock has been straddling (2 weeks above and 2 weeks below) the 200-week MA, currently at 125.85, without any clear sign of direction from here. There is some minor to perhaps decent intraweek resistance at the $130 demilitarized zone and that level was reached on Friday and a bounce back down from that area was seen, given that the stock closed at 127.72. There is short-term pivotal resistance at 132.44 and the same for support at 120.80 and the probabilities favor the stock trading within that range until the earnings report comes out on July 24. The stock is sensitive to the index market and given that the indexes are not expected to do much this week, the same applies to the stock.

CNX did not see any follow through to the downside as was expected and ended up with an inside week and a green weekly close and near the high of the week, suggesting further upside above last week's high at 8.90 will be seen this week. Nonetheless and other than stating that the recent weakness is not as week as originally thought, the bulls did not accomplish anything of consequence given that a weekly close above 9.37 is needed in order to supply new ammunition to the bulls. By the same token, the green weekly close does mean that the previous week's low at 8.18 has become a successful retest of the 200-day MA, currently at 8.15, and with the stock getting down to that price on Monday and then following up with 3 higher daily closes in a row, as well as a new high for those 3 days occurring on Thursday, it is suggesting that the bears have lost their short-term edge and that the bulls will be trying to restart the uptrend. Pivotal and indicative intraweek resistance is found at 9.43 that if broken, especially if a daily/weekly close above 9.37 occurs, the bulls will regain control. For this coming week though, the stock is likely to trade in a small trading range between 8.70 and 9.30. Earnings report due out July 27.

CRON generated a positive reversal week, having made a new 6-week low at 5.82 and then closing green and on the high of the week, suggesting further upside above last week's high at 6.24 will be seen this week. By the same token and other than showing that the bears are not yet in control, the bulls did not make any kind of a statement as a weekly close above 6.26 was needed to negate the failure signal given the previous week but the stock closed at 6.17. Like with many other stocks and some of the indexes, the traders seem to be waiting for some clarification of what the marketplace is going to do with the virus and the economic ills involved with it. By the same token and looking exclusively at the chart, a rally above last week's high will make last week's low at 5.82 into the second successful retest of the March low at 4.00 and that should give the bulls a slight edge for some rally, likely back up to the 7.20 level. The charts at this time suggest that the stock will be trading for the next few weeks between $6 and $7 with no clear signs of what will happen thereafter but with a very slight tilt to the bull side. The company does not report earnings until August 7. Probabilities slightly favor the bulls this week but nothing of consequence occurring.

ENG generated an inside week but did generate a new 6-week weekly closing high at 1.10. Pivotal weekly close resistance is found at 1.11/1.13 as there are 2 other previous weekly closes at 1.11 and the 200-week MA is currently at 1.13. The stock did generate a new buy signal on the daily closing high and this comes after a second successful and confirmed retest of the 200-day MA, currently at .97. The stock has now established itself strongly above the 200-day MA, having stayed above the line for the past 14 weeks and having tested it successfully repeatedly, suggesting the bulls will now have another attempt a breaking the 200-week MA that they have been at for the past 9 weeks and under the line for the past 4 years. The repeated attempts and the supportive fundamentals, suggest that sometime in the next couple of weeks, a breakout will occur. Minimum upside target is 1.33 and up to 1.48. The 4-point 10-year downtrend line on an intraweek basis is presently at 1.66 and at some point within the next 3-6 weeks that line is likely to be tested. A confirmed break of that trendline will open up the door for a rally up to the $5 level and a trading range between $4 and $5 thereafter. Probabilities favor the bulls.

MCIG continues to trade in the .0225 and .035 area that it has been in for the past 16 weeks. The trading ranges are minute as there seems to be no interest in selling or buying at this time. There is no sign yet that the traders are ready to break above or below that trading range at this time.

MRNA generated a second red weekly close in a row but no support levels were broken. The stock was trading positively at the beginning of the week but then the company announced there would be a delay in starting Phase 111 clinical trial of the vaccine that was due to start July 9th and the stock gave up all of its gains and fell 8% in value. Nonetheless, it was also announced that the delay was because changes to the trial protocol and that it could still start this month. The stock did recover about 3% of its losses at the end of the week. The stock did get down close to an established support level at $55 (low for the week was 55.81) and bounced. The stock closed in the lower half of the week's trading range so further downside below last week's low is expected to be seen this week. On a positive chart note, the weekly chart shows short-term pivotal weekly close support at 58.19 that was not broken, suggesting the stock is likely to generate a green close next Friday. Probabilities favor the bulls.

NEM continued the upward recovery climb, having generated the 4th green weekly close in a row. The stock closed near the high of the week and further upside above last week's high at 61.97 is expected to be seen this week. The open gap on the weekly chart is at 62.30 and that gap is likely to be closed this week, which in turn would negate the chart negative that has kept the stock under sell pressure the past 5 weeks. Prior to the gap, the stock was leading all Gold stocks to the upside and once this gap is closed that pattern could return, especially if the resistance above at 64.65 is broken. Above that level there is no resistance until the multi-year high at 69.13 is reached. Intraweek support is now decent and likely short-term pivotal at 58.21. Probabilities favor the bulls.

QQQ generated a positive reversal week that totally negated the negative reversal week seen the week before. The stock closed near the high of the week and further upside above last week's high at 254.27 is expected to be seen this week. Nonetheless, the stock closed near the low of the day on Thursday and the first course of action for the week is likely to be to the downside with closure of Thursday's gap at 251.52 being the minimum objective. Like with its mother (the NASDAQ), there is no news due out this week that could support these higher prices and having had a negative reversal week the week prior and only going up this past week because of the positive economic news (which will not be additionally supported this week), the probabilities favor a back and forth week with more red than green being seen. Drops down close to last week's low at 2357.35 could be seen with the $240 level likely to be the magnet. Potential trading range for the week could be something like $240-$255. It would be a meaningless week other than to establish a new support level from which to launch a new rally if the earnings reports due out at the end of the month are positive or establish a support level near the previous all-time high weekly close at 236.98 that if broken, would mean the rally is over. Probabilities favor trading on both sides of green and red this week with a slight bias to the downside.

SCCO negated the break of the 200-week MA, currently at 38.23, with a week in which the stock traded all week above the line and closed above the line on Thursday (closed at 38.91). Nonetheless, the bulls were unable to make any statement as no resistance levels were broken. The stock closed in the middle of the week's trading range, suggesting equal chances of going above last weeks' high at 39.93 or below last week's low at 37.94. With no statement being made, trading is likely to mimic the indexes this week. Short-term pivotal resistance is found at 40.31. There is no close-by support below until the recent low at 35.45 is reached, which is also where the 200-day MA, currently at 35.93 is located. If the bulls are unable to get above 40.31, the chart suggests that a drop down to the MA line will be seen before the company reports earnings on July 27th. Probabilities slightly favor the bears.

W generated a positive reversal week that negated the negative reversal week that occurred the previous week. The stock made a new all-time high at 222.30 and did close in the upper half of the week's trading range, suggesting further upside above that level is likely to be seen this week. By the same token and using the daily chart, a potential double top now exists on the chart with highs at 221.54 and 222.30 that is viable given that the fundamental upside objective of the rating companies following the stock is at $222 and that level has now been established as successfully tested given the red daily close on Thursday, with the stock having dropped $8 from Wednesday high at 222.30 and having closed near the low of the day, suggesting the first course of action for the week will be below Thursday's low at 214.10. There is no support found until 197.27 is reached and that support is very minor in nature. Pivotal support is found at the previous week's low at 193.69 that if broken, would be a tangible sign that a top to the rally has been established. Company reports earning on August 4th. Probabilities slightly favor the bears this week but like with the indexes and many stocks, the week is likely to be mostly back and forth with both green and red being seen with a slight bias to the bears.