AXP generated a new 12-week high and did get close to the runaway gap from March between 103.79 and 103.37 with a high last week at 102.46. Nonetheless, selling interest did come in at that level, causing the stock to drop back down to 92.89 and close near the low of the week, suggesting further downside below that level will be seen this week. The stock did gap up on Monday and that gap is down at 91.43 and with no positive fundamental news to support the gap, closure of the gap this week is a high probability. The stock did generate a new 12-week weekly closing high but then only by $.25 cents and that is not a convincing signal, meaning that the mini breakout will need to be confirmed next Friday with another green weekly close. If that does not happen, a double high weekly close will get established and that would bring in new chart selling interest. Given the importance of the economic reports scheduled for this week, the probabilities are split evenly among the bulls and bears as to whether further upside will be seen or the opposite. Things could start becoming clear as soon as Monday though, given that on the daily chart a buy signal was given on Wednesday when the stock closed above the previous daily closing high at 96.12, which was in effect negated with Friday's close at 95.07. This means that if the failure signal against the bulls on the daily chart is not reversed on Monday, the traders will key on the downside (and the close of the gap) until the end of the week when the Jobs Report is due out. There is a runaway open gap on the daily chart at 89.95 that if closed would suggest the breakaway gap at 83.39 will be targeted. If the runaway gap is not closed, then the traders may key on further upside with the 200-day MA, currently at 111.85, to be reached within 1-3 weeks. This week is looming to be pivotal for the stock.

CAT generated a failure signal against the bears on the weekly chart, having closed above an important and pivotal weekly close support at 114.06 that when broken caused the fall to 87.50 to occur. This failure signal negation does mean that the low at that price is now a bottom and unlikely to get broken in the future unless fundamental conditions worsen. On a short-term positive note for the bears, the stock did get up to the 200-week MA, currently at 124.72, with a high at 124.83, followed by a drop all the way back down to 117.57. The stock closed "exactly" in the middle of the week's trading range, leaving the door wide open for either a higher high above 124.83 or a lower low below last week's low at 117.57 to be seen, all depending on the news and the action in the index market. With the index market now seemingly limited as to gains to the upside, I would surmise the traders will be looking more to the downside than the upside with the stock. The stock is showing a breakaway/runaway gap formation on the daily chart between 114.16 and 115.98 and a breakaway gap between 107.99 and 111.47, meaning that if the first gap is closed, the other gap is likely to be targeted for closure. On the weekly chart, there is also an open gap between 110.77 and 111.47, which is not supported by positive company news, suggesting that gap is likely to be closed. As such and with decent and indicative resistance at the 200-day MA, the probabilities favor the bears.

CRON confirmed the new buy signal on the weekly closing chart, having closed for a second week in a row above 6.26 (closed at 6.53). The stock did close in the lower half of the week's trading range, suggesting further downside below last week's low at 6.20, which if it happens and then turns back up the following week, would end up being a successful retest of the recent low at 4.62. The stock gapped down on Friday between 6.65 and 6.58 but there was no news to support the gap, meaning it is likely to be closed. The most positive thing that did occur this past week is that the gap down at 7.12 from February 24th has now been closed, erasing the negative action seen the past 3 months. The bulls still have more work to be done before the stock can turn into a positive bias (presently in a sideways trend but still with a slight bearish bias) as the 200-day MA, currently at 7.52 needs to be broken and confirmed before the bulls gain a decided edge. For now though, the $6.00 level is now considered dependable support that is unlikely to be broken and a trading range between that level and 7.50 is what is likely to be seen during the next couple of weeks. A possible bullish flag is presently being built and if the bears fail to take the stock below last week's low at 6.20 and break above last week's high at 7.17, the objective of the flag would be 7.72. 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 51.73 will be seen this week. In addition, the stock closed above the minor to decent weekly close resistance at 50.26 2012, increasing the chances that further upside of consequence is to be seen. On a still negative note, the runaway gap from February at 52.02 still has not been closed and until that gap is closed, the bears will continue to have the overall edge. By the same token, the probabilities favor that gap being closed this week. Short-term support is found at 48.24 that if broken would likely take the stock down to last week's low at 47.70 that if broken would suggest a drop down to 43.63 would occur. Probabilities favor the bulls and therefore consideration should be given to covering the short positions unless last week's low is broken.

ENG made a new 6-month intraweek high at 1.21 but still the bulls failed to close above the 200-week MA, currently at 1.14. Nonetheless, this is now the 4th week in a row that the line has been reached or broken and it seems just a matter of time before it becomes reality. For the past 3 weeks the stock has traded sideways (based on a daily closing basis) but this kind of action following the strong up rally the weeks prior to that, suggests that the traders are building a new support base from which to launch a new rally and a break of the 200-week MA, which has not been broken to the upside more than 1 week for the past 3 years. A weekly close above 1.19 would be a strong buy signal that would likely carry the stock up to the point downtrend line that started 10 years ago, currently at 1.70. Intraweek support is found at .93 but on a daily closing basis. Probabilities favor the bulls.

MCIG continues to trade in the .0225 and .035 area that it has been in for the past 11 weeks. There is no sign yet that the traders are ready to break out or below that trading range at this time. Nonetheless, with CRON starting to show signs of positive upside movement, the probabilities favor the bulls slightly.

MRNA made a new 4-week low with a drop down to 46.13, which is a 46% drop from the $85 high seen 3 weeks ago. Nonetheless, the stock rallied to closed in the upper half of the week's trading range, suggesting further upside above last week's high at 66.59 will be seen this week. If that occurs, last week's low at 46.13 will become the new intraweek support level. Such a defining of a new support level was necessary given that the previous support level was at 19.31 and a new one had to be built in order for the bulls to continue taking the stock higher. On this move down and just this past week, a breakaway and runaway gap formation had been built but on Friday, the runaway gap was closed, meaning the traders will target the breakaway gap between 67.14 and 66.59 for closure this week. There is some intraweek resistance at 68.49 that if not broken would suggest a drop back down to at least the $50 demilitarized zone would occur. By the same token, if the resistance level is broken, there is no resistance above until the all-time high at 85.00 is reached. Fundamentals strongly support the company and the probabilities favor the bulls.

NEM made a new 7-week low at 55.75, which did break the decent but old intraweek support level at 66,34. Nonetheless and on a weekly closing basis, the stock fell to a decent support level from 2011/2012 at 58.34 with a close on Friday at 58.47, suggesting that a green close next Friday would be a strong positive that would likely thrust the traders to test the recent weekly closing high at 67.90 or even the 10-year weekly closing high at 69.61. Minor to decent intraweek resistance will now be found at 64.62. The stock did gap down this week between 62.30 and 61.75 that is not supported by news so likely to be closed. By the same token, the stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 55.75 than above last week's high at 61.75, meaning that there is a dichotomy between the gap and the closure in the lower half of the week's trading range as to which one is the biggest magnet this week. With the close being at the important weekly close support level, I would venture to say that the bulls have the probabilities in their favor this week.

QQQ generated a positive reversal week, having gone below last week's low and then closing above the previous week's high and on the high of the week, suggesting further upside above last week's high at 233.60 will be seen this week. The stock closed within $1.28 cents of the all-time high weekly close and is within $4.11 cents of the all-time intraweek high and likely to see and close at those levels this week. With this rally, the stock is now showing a V-shaped pattern recovery that 90% of the expert analystis stated was not possible. With the country in a recession, further upside above these levels will be unexplainable fundamentally. The stock is now at a level that if failure to make new highs happens, a double top will occur and by definition, a double top is a clear signal that a bull market has ended. Fundamentally, it is difficult to believe that a new leg up in a bull market can happen due to the already severe damage that the economy has incurred and that can't/won't be overcome for years. With no correction of any consequence been seen in the 11-week rally, there has been no support of any consequence built on the way up and that means that if a double top is established, a drop down to the first established support level at 198.17 is likely to occur. That would mean a correction of 15% would be seen and in this kind of a market, that kind of a correction is the norm rather than the exception. Evidently, if new all-time highs are made, on either a weekly closing basis or intraweek, they would need to be confirmed the following week. Probabilities favor the stock having an uneventful weekly close or a red weekly close. Important economic reports are due out this week that will likely help determine what is to happen. All reports are due out with bearish numbers.

W generated a positive reversal week, having gone below the previous week's low and then going above the previous week's high and closing in the green and near the high of the week, suggesting further upside above last week's high at 177.28 will be seen this week. All failure signals that have occurred of late were negated with this close as the stock closed above the previous all-time high weekly close at 169.83 (closed at 171.55). By the same token and with the stock having quintupled in price over the previous 11 weeks, without some negative fundamental news having come out, a retest of the previous all-time high was not only likely but needed/required. If the NASDAQ fails to make a new all-time high, it will likely mean the stock will fail as well. As it is, the opening of the economy does suggest that demand for products the company offers online will falter and that in-and-of-itself, should cause the stock to fail to make new highs as well. Level of daily close support to watch this week is 153.89. A close below that level will generate a sell signal and with no support found until the $140 level, a fall to that level is likely to occur. I do need to mention that throughout the past 3 year chart history of this stock, the 200-day MA, currently at 99.24, has been a magnet repeatedly, having been seen and broken a total of 8 times during this period of time. Never before until recently has the stock been as far away from the line as it is now, with the biggest price difference from the line being $80 when the stock was at the March low at 21.70 and the MA line being at the time at 108.10. Recently when the all-time high at 192.73 was made, the MA line was at 97.07, meaning a difference of $95 from the line. The most time the stock has been away from touching the line when above the line has been 5 months. The MA line over that period of time could move up as much as $28 from where it is presently at (99.24), meaning that a drop down to around the $125-130 level is expected to be seen sometime during the next 4 months, if not sooner. Probabilities favor the bulls this week but a negative reversal could be seen next Friday.