AXP generated an 8% rally this week from weekly close to weekly close and did close in the upper half of the week's trading range, suggesting further upside above last week's high at 91.43 will be seen this week. Nonetheless, the stock continues to trade in an uneventful trading range that is now defined by the previous week's low at 76.00 and the most recent high at 96.39. Overall, the chart remains slanted in favor of the bears as a bearish pyramid formation remains. Nonetheless, it is important to note that the previous week's low at 76.00 is now considered to be the needed/required retest of the March lows, meaning that in that way, the chart to the downside may have been fulfilled. Then again, it also means that now the traders will key on the fundamental picture more so than before for a break below the recent low or above the recent high. The chart favors the bears but the fundamentals remain uncertain, suggesting that the stock will continue to trade within that $20 range between $76 and $96 until the fundamental picture gets clearer. That is not likely to happen for at least another 4 weeks but probably not for another 2 months until the next set of earnings reports come out. Probabilities favor the bulls this week but only for a rally above last week's high. One possible indicative thing did occur on Friday as the stock closed below the most recent high weekly close at 89.50 (closed at 89.33) and a close above that level would have given the bulls a short-term edge. A red close next Friday, would keep the bears with a clear short-term edge. As such, this week will be all about a red or green weekly close on Friday.

CAT, much like the evaluation of AXP above, seems to be in a $20 trading range between $100 and $120 level. Nonetheless, in the case of this stock, it closed on the low of the week, suggesting further downside below last week's low at 111.47 will be seen this week. The stock did gap up on the weekly chart between 110.77 and 111.47, which evidently means that closure of the gap is the main objective of the traders this week. Nonetheless, it also shows a gap on the daily chart between 107.99 and 111.47 that has a high probability of being closed as well. If that occurs, the bears will have a bit more short-term control of the stock that was is being seen with AXP. Everything else stated above with AXP does apply to this stock as well. On the other hand and looking at the daily chart (rather than the weekly), there is short-term pivotal resistance at 117.48 that if broken, would give an edge to the bulls. On a weekly closing basis, the 114.06 level remains pivotal as that was the level of support that when broken, took the stock down to 87.50. The stock did trade above that level every day of the week on an intraweek basis but then closing substantially below that level on Friday is suggestive that the bears remain in control and to change that, a positive fundamental change needs to occur. None is expected at this time. Some intraweek support is found at 106.55 that if broken would give the bears a bit more ammunition but if seen and not broken, would be suggesting of a rally. Consideration should be given to taking some or all profits on a drop down to that level. Probabilities favor the bears this week.

CRON generated a new buy signal on the weekly chart, having closed above the 13-week high weekly close at 6.26 on Friday. The reason for the buy interest was because of a study that was made by the Cannabis industry that showed that at least 13 Cannabis plants could block proteins that create a "gateway" for the new coronavirus to enter host cells. The stock closed on the high of the week and further upside above last week's high at 6.87 is expected to be seen this week. With the stock having generated a successful retest of the previous $4 low the previous week and now given a buy signal, the probabilities of a bottom having been built and established have soared. The next step that bulls have to accomplish is a close of the now 14-week long gap at 7.10. Closure of the gap will totally fulfill the chart to the point the traders will become at least shor-term buyers with at likely minimum rise up close to the $9 level. Intraweek support is now pivotal at 5.48. Probabilities favor the bulls.

DD made a new 3-month intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 49.87 will be seen this week. The stop loss given was triggered but with the new high being minor in nature and decent weekly close resistance at the $50 demilitarized zone (51.24 on an intraweek basis), closing of the short positions was not made. Intraweek resistance (as mentioned above) is minor to decent at 51.24 and is likely to be seen this week. The stock is showing a gap between 45.84 and 47.08 that should be closed as there is no positive news to the company supporting the gap. By the same token, if the stock gets above 51.24, there is no resistance above until the $60 level is reached. Probabilities favor the bulls this week.

ENG generated an inside week, meaning no levels of resistance or support were broken. Nonetheless, the stock did close near the low of the week, suggesting further downside below last week's low at 1.00 is likely to be seen this week. Intraweek support is found at .93 but on a daily closing basis, the 200-day MA, currently at .98 should not be broken. Any rally above the 2-week high at 1.18 would generate an additional and stronger buy signal, especially if a close above the 200-week MA, currently at 1.14, occurs. Probabilities favor another uneventful week.

MCIG generated a negative reversal week, having made a new 5-week high but then closing red and near the low of the week, suggesting further downside below last week's low at .026 will be seen this week. It was a surprising reversal given that the news on the Cannabis industry was positive and caused CRON to make a new multi-week high. By the same token, no support levels were broken and if there is no downside follow through this week and a rally above last week's high at .0349 is seen this week, last week's low will become a required/needed successful retest of the 4-week low at ,0235. The stock seems to be building a strong support base from which to launch a rally. Probabilities favor the bulls.

MRNA rallied an additional 23% in value from the previous week's close to the intraweek high made last week at 87.00. Nonetheless, the bulls were not able to maintain the rally and the stock on Friday closed near the low of the week and further downside below last week's low at 65.31 is expected to be seen this week. The stock has quadrupled in price over the past 10 weeks and has only seen 2 minor red weekly closes and zero drops below a previous week's low, suggesting the traders are now looking to see where fundamental support buying is now found. Simply stated, the stock is likely pausing to build a new support base from which to launch further moves to the upside. Evidently and from a psychological point of view, the $50 has to be considered a likely support area but given that the fundamental picture looks strongly positive and the news continues to support further upside, it is unlikely a drop down to that level will occur. Though the probabilities favor a drop below last week's low, the reality is that the bears have had no success at all during the past 2 and a half months and a gap created on Monday was closed on Thursday and was followed by an inside day and a green close on Friday, suggesting Thursday's low at 65.31 could become the new support level. A rally on Tuesday above Friday's high at 70.60 would likely mean no further downside will be seen. Probabilities favor the bulls.

NEM generated a negative reversal week, having made another new 8+-year intraweek high at 69.13 and then closing red and near the low of the week, suggesting further downside below last week's low at 62.30 will be seen this week. Like with MRNA, the stock has seen higher highs each week for the past 10 weeks and no corrections on the weekly chart. With the all-time high weekly close being at 69.61 and last week's high being at 69.13, it seems the traders not only want to build a new support level but wait until more tangible fundamental news about the economy and the dollar comes out. In 2011 when the all-time high weekly close was made, the stock spent almost 3 months staying above the 61,75 weekly closing level and it seems highly likely that level will once again be considered support at this time until new news comes out that decides the next direction. Probabilities favor Gold making new all-time highs, which in turn favor the stock doing the same. Nonetheless, it is likely that the stock will trade between those two weekly closing levels mentioned above for at least the next 2-3 weeks. Probabilities favor the bears this week. I do want to mention that any rally back up near the high at $69 be a reason to take profits, while dips down near the $60 level be a reason to buy. Simply stated, the stock is likely to be a trading vehicle for the next few weeks.

QQQ made a new intraweek and weekly closing rally high and is now only 3.3% from the all-time high, opening the door wide open for a V-shaped recovery to occur. The stock did close the March gap at 229.32 with a high this past week at 232.14, which is a positive for the bulls from the point of view that a big bearish negative has been removed from the equation but it also could be a negative in favor of the bears given that the magnet of the gap has now been removed and the bulls will need tangible bullish information to continue higher. Fundamentally, the index was driven higher by AMZN and FB, both of which made new all-time highs this past week. Evidently, AMZN is the stronger of the two and the one stock the stock is most dependent on, meaning that continuing to make new highs will depend on whether AMZN continues higher or not. It is important to note that other than those two companies, none of the other big companies did much last week. AMZN reported disappointing earnings recently that caused a 10% drop in price. That loss has now been recouped and new highs made but the company reported that they will be spending $4 billion on coronavirus expenditures and are expected to come in with somewhere between a -$1.5 loss to a +$1.5 billion dollar profit in the second quarter. Such uncertainty will not help the bulls. In addition, the company closed the relationship with over 10,000 suppliers due to price gouging and are experiencing problems with receiving deliveries from the other suppliers, suggesting a higher probability that next quarter's earnings will not support continued new all-time highs. This does suggest that NASDAQM/b>/QQQ will have problems continuing higher, especially regarding making new all-time highs. With a possible 3.3% profit potential versus a 13.8% potential risk (where a viable support level is located at 198.10), the viability of the bulls continuing to buy with a negative 1-4 risk/reward ratio has to be considered very low. Probabilities continue to favor the bulls but growth from here is limited and likely not fast and with no support of consequence below until 198.10 is reached, at some point in the near term, the stock (and the index) are more likely to drop than rally.

W generated a failure signal on the weekly closing chart, having closed below the previous all-time high weekly close at 169.83 (closed at 165.69). The bulls were able to rally the stock to close in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 174.93 than below last week's low at 150.02. Nonetheless, the previous all-time intraweek high is at 173.72 and traders will likely be sellers around that level, meaning that getting above the previous intraweek all-time high is not a given, especially considering that there is no resistance above that level until the all-time intraweek high at 197.06 is reached. The stock is showing a potential flag formation being formed with the flagpole being the drop from 197.06 to 150.02 and the flag being the action seen the past 4 days with a high at 168.24. If the flag is formed and the bottom of the flag at 150.02 is broken, it would offer a downside target of 141.26, which fits in well with the existing intraweek support at 135.21. A small break above 168.24 would not negate the flag but simply extend the time frame. By the same token, a rally above last week's high would be a bullish short-term statement. I would venture to say that the bears have a slight advantage this week.