ARNA generated a negative reversal week, having made a new 3-month intraweek high and then going below the previous week's low and closing red. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 44.79 will be seen this week. Nonetheless and on an intraweek basis, the stock has gotten down near an area of support between 43.09 and 44.31 that could hold up unless the indexes take a strong turn downward. As such, if the stock does go below last week's low this week, consideration should be given to taking profits. Main objective of the mention will have been achieved. Intraweek resistance is found at 49.70 but on a daily closing basis, resistance is found at the 200-day MA, currently at 48.30. By the same token, if the stock gets below 43.09, further downside would likely be seen with a potential target of $35. Probabilities favor the bears this week.

AXP made a new 6-week low and almost reached the mentions objective at $75 with a drop down to 76.00. The stock bounced up to close slightly in the upper half of the week's trading range, suggesting a slightly higher probability of going above last week's high at 87.65 than below last week's low at 76.00. Nonetheless, the objective given was based on a weekly close and having closed on Friday at 82.22, it cannot yet be said the objective has been reached. The stock will be sensitive to what the DOW does and the outlook for the index remains short-term bearish. By the same token, the almost $8 bounce up from $76 does suggest that the $75 is probably going to be "it" for the downside, meaning that any drop back down near that level should be considered an opportunity to take profits. On the other side of the coin, the stock did close the gap at 83.10 on Thursday and closed on the high of the day but did not see follow through on Friday in spite of the index rally at the end of the day, suggesting that Thursday's high at 83.90 is a pivot point where a mental stop loss can be placed at 84.00, given that above 83.90 there is absolutely no resistance above until 89.66 is reached. Probabilities slightly favor the bears but the bounce was of note and it can be said that the downside objective has been neared or reached and no further downside below that area will be seen.

CAT made a new 7-week low and got down to the mention's objective at $100 with a low last week at 100.22. The bulls got involved and were able to generate enough buying to close near the high of the week, suggesting further upside above last week's high at 110.77 will be seen this week. If that occurs and a green close occurs next Friday, it will be a tangible sign that a retest of the March low will have occurred. Nonetheless, the stock still generated a red weekly close and on a weekly closing basis, there is no support at Friday's close at 107.92, which in turn suggests further downside is still likely to be seen, at least on a weekly closing basis as the closest established weekly close support is at 104.85. The key this week is at 112.20/112.11, based on an intraweek and daily closing basis respectively, as a break and close above those levels would generate a new buy signal. Probabilities still slightly favor the bears.

CRON had an important week and it can be said that the bulls won the battle. The stock generated a positive reversal week, having made a new 7-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 5.55 will be seen this week. The reversal was supported with news as the company reported better than expected sales (about 13% higher than expected) and that gave the bulls confidence in buying the stock. If the stock goes above last week's high, last week's low at 4.62 will become a successful retest of the 4.00 low seen in March. More important and on a chart basis, the 29-month weekly closing low at 5.26 was not broken in spite of the fact the stock traded below that level every day of the week except Monday. The green weekly close does suggest that weekly closing low has been tested successfully and that the traders will now begin to key on testing and breaking the upside resistance levels above. On an intraweek basis, there is no resistance of consequence until 6.20 is reached, meaning that there is basically open air above for another 60 points. Support will now be found between 4.98 and 5.14 that if the rally is confirmed, should no longer be broken. Probabilities favor the bulls.

DD generated a negative reversal week, having gone above last week's high and below last week's low and then closing red. Nonetheless, with the stock closing near the high of the week and further upside above last week's high 47.59 being expected to be seen this week, the negative reversal is not dependable. This is the same thing as what happened to the NASDAQ and therefore the same outlook as for the index is what the traders will be looking for this week. It should be mentioned that the downside objective of a drop down to 40.00 was not accomplished as last week's low was 41.83, meaning that the bears still have the edge. Pivotal resistance is now found at 49.13 that if broken would suggest a rally back up to the $54/$57 level would ensue, meaning that a stop loss at 49.33 should now be instituted. The probabilities still slightly favor the bears.

ENG generated a new buy signal on the weekly closing chart, having closed above the most recent high weekly close at 1.02 on Friday (closed at 1.05). In addition, the week's high was the same as the previous week at 1.18 and with the 200-week MA currently being at 1.14, the bulls continue to get closer to a small breakout of consequence. The stock has not closed convincingly above the line for 3 years in a row and now the bulls have been able to get up (and above) the line twice in the past 2 weeks. There is pivotal weekly close resistance at 1.19 and any close above that level would open the door for a spike rally up to the 1.70 level. The stock has now closed above the 200-day MA, currently at .98, for 14 days in a row and did generate a successful retest of the line on Thursday with a close at 1.00, followed with a green close on Friday. As such, the chart is now totally fulfilled to the downside and the traders are now likely to explore a breakout to the upside, to likely happen sometime in the next 2-3 weeks. Probabilities favor the bulls.

MCIG generated a key positive reversal, having made a new 5-week low and the closing green and above last week's high and on the high of the week, suggesting further upside above last week's high at .03 will be seen this week. This does reflect the action seen in CRON that does suggest a high possibility that the stocks in the Cannabis Industry are in for some type of rally. The chart suggests that a rally up to the 6-week resistance at .04 is to be seen at this time. With the 200-day MA, currently at .039, it is evident that a break and close above .04 would now be a short-term bull statement. Given that a positive reversal occurred this past week, last week's low at .0235 is now considered pivotal support. Probabilities favor the bulls.

MRNA made yet another new all-time intraweek and weekly closing high and close near the high of the week, suggesting further upside above last week's high at 68.49 will be seen this week. The stock built a bullish flag formation during the week, having dropped down to 60.29 on Wednesday and trading between the high and the low during 4 of the 5 days of the week. A break above 68.49 gives an 83.77 objective. By the same token, the 60.29 level is now pivotal support, meaning that a stop loss at 59.65 can now be used. Probabilities favor the bulls.

NEM generated another new 8+-year weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 68.47 will be seen this week. There is no intraweek resistance until the all-time intraweek high at 71.54 (69.61 on a weekly closing basis) is reached. With Gold also having made a new multi-year weekly closing high last week, getting up to the all-time high is now a high probability for either this coming week or the next. Pivotal support is now found at 61.83 that if broken would suggest a high is in place. As such, a break of that support by more than 10 points would suggest taking profits on the subsequent rally. Probabilities favor the bulls.

QQQ generated a negative reversal week, having made a new 5-month intraweek high and then closing red. Nonetheless and like the NASDAQ, the bulls were able to rally and generate a close in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 228.10 than below last week's low at 215.99. Upside objective potential remains at 229.32, which would mean closure of the March gap. Once again, if the gap is not closed and another red weekly close occurs next Friday, it would be a tangible sign that the rally has run its course. Downside objective remains the 193.97 level, which first in well with the existing intraweek support at 193.79. A failure to go above last week's high this week, would be a strong negative sign. Probabilities slightly favor the bears.

W generated a negative reversal week, having gotten to the bottom of the $200 general resistance zone (saw a high at 197.06) and then closing red and in the lower half of the week's trading range, suggesting further downside below last week's low at 165,00 will be seen this week. In addition and toward the end of the week after selling had already been seen, Citigroup downgraded the stock from neutral to sell with a $130 downside target. On a positive note for the bulls though, the previous all-time high weekly close is at 169.83 and having traded below that level on Friday (after the downgrade occurred) and the bulls still being able to rally and close above that level (closed at 173.10) does suggest the traders remain generally bullish, or at least supportive, of these prices. With the stock likely to go below last week's low, the previous 52-week daily closing high at 161.71 will be a potential and even likely downside objective for this week. A confirmed daily close below that level would be a strong short-term negative sign that would suggest the stock would drop down to close the gap from the first week of May at 134.50 and therefore fulfill the downgrade target of Citigroup at $130. To the upside, there is minor resistance at 182.44. Probabilities favor the bears but the charts have not been dependable of late.