AU failed to follow through to the upside after last week's close on the highs of the week and ended up generating a move down below the previous week's low, a red close, and in the lower half of the week's trading range, suggesting further downside below last week's low at 23.06 will be seen this week. Nonetheless, the down week came as a reaction to the vaccine news that generated crazy action all over the place. On a possible/probable positive note, the stock had an unclosed gap below at 23.25 that had no fundamental reason to stay unclosed. The gap was closed on Wednesday and on Friday the stock went above Thursday's high and therefore on the daily closing chart, a successful retest of the low has now occurred and if that is confirmed this week with another green close on Monday (especially if above the 200-day MA, currently at 25.32), the probabilities of further downside below last week's low will be brought down to minimal. Using the daily chart, if the stock is able to close above the MA, the chart will be fulfilled to the downside and the traders will turn all of their attention to the upside. There is an open gap above at 27.04 that will now act as a magnet unless some negative news comes out. A daily stop close only stop loss can now be placed at 23.10. Simply stated, the probabilities now favor the bulls.

AXP generated a new 37-week intraweek and weekly closing high but closed in the middle of the week's trading range, suggesting equal chances of going above last week's high at 119.89 or below last week's low at 109.55, The stock accomplished this based on the rally that occurred due to the announcement of the vaccine as well as the strength seen in the financial industry (SPX). Nonetheless, this rally and new multi-week high is exclusively tied in to the index market and as such, the fate of the stock will lie on what the indexes do from here. From a purely chart point of view, the stock gapped up last Monday on the news but this gap is not supported by company news, meaning the gap down at 98.64 is a magnet unless the index market continues higher and in a strong way. On a negative chart point of view, the stock closed on Friday at 114.99 and there is decent resistance in that area (between 114.41 and 114.91) from 2 previous and important/pivotal support levels built in May and September of last year, which when broken, caused the stock to drop all the way down 73.60. As such, the close on Friday is a pivotal level of weekly close support for next Friday. A green close next Friday would mean further upside is to be seen, while a red close next Friday would mean no further upside is to occur. I believe the probabilities favor the bears.

BTZI did not follow through to the upside as expected by the close on the high of the week the previous week and generated a red weekly close. Nonetheless, no support levels were broken and the stock closed in the upper half of the week's trading range, suggesting this past week might have been more about building a new support level than anything meaningful. The stock did get below the previous week's low and if the bulls are able to get the stock above last week's high at .055, last week's low at .040 will become the new support level. This is important given the .040 level was unbreakable resistance for several months and now likely will become strong support. Probabilities favor the bulls.

CAT generated a new all-time intraweek and weekly closing highs this past week. Nonetheless, the stock closed in the lower half of the week's trading range, suggesting a higher probability of going below last week's low at 167.47 and above last week's high at 176.37. The stock is in the same situation as the SPX, inasmuch as it has to confirm the breakout. In addition, the rally in the stock was for the exact same reasons as with the index (the announcement of the vaccine). There are several levels to watch for this week. On a daily closing basis, the previous all-time high daily close is at 170.89. Any two closes in a row this week below that level will generate a confirmed failure signal. Intraweek support is at 167.47 that if broken would give a short term edge to the bears and drive the stock down to at least 165.54 to close the gap there. A weekly close next Friday below the all-time high weekly close at 170.41 would also give a failure signal. Any rally above last week's high at 176.37 would be bullish and suggest further upside is to come. Probabilities slightly favor the bears.

CNX generated a positive reversal week, having made a new 17-week intraweek low but then going above the previous week's high and closing green and near the high of the week, suggesting further upside above last week's high at 10.31 will be seen this week. In addition, the stock gave a failure signal against the bears, having closed above the pivotal support at 9.37 on Friday, the level that when broken took the stock down to last week's low at 8.31. The chart, with the break of the 9.37 level 3 weeks ago, suggests that neither the bulls or bears has control at this time and that the stock is presently in a sideways trading range between 9.37 and 11.50 level (based on weekly closes) and will remain in that trading range until the new administration takes over in the third week of January.

CRON generated negative reversal week, having made a new 9-month+ intraweek high and then closing red and in the lower half of the week's trading range, suggesting further downside below last week's low at 6.63 will be seen this week. In addition, the red weekly close means that the previous week's close at 7.51 has become a successful retest of the 200-week MA, currently at 7.65. The high of the week was at 8.81 and that is the 52-week intraweek high, meaning that in spite of the recent breakout, the bulls do not yet have enough ammunition to generate a major buy signal as a break of the year's high is at 9.00. This is no surprise as breaking that level is not likely to occur until more proof is shown that Biden and Harris will be able to legalize Marijuana in the U.S. and that is not likely to happen until they take office in January. As such, the traders are likely to be in the base building of a new support level that is likely to occur at the 6.00 level, which is considered at this time important and pivotal support. By the same token and once that level has been tested, the traders are likely to be buyers again and as such, a trading range between 6.00 and 9.00 is likely to be seen for the next 14 weeks.

ENG generated a second green weekly close in a row, fortifying the idea that the downside is over. By the same token, the bulls were not able to make any kind of a bullish statement, having closed on $.02 cents above the previous week's close and not having broken any resistance levels this past week. The stock did close slightly in the upper half of last week's trading range, suggesting further upside above last week's high at .90 will be seen this week. Intraweek resistance is found at .96 and at .98 that if broken, especially on a daily closing basis, would suggest the bulls have their edge back. The 200-day MA is currently at .94 and that makes that resistance level even more pivotal. Pivotal support remains at .74. Probabilities slightly favor the bulls.

MRNA generated a new 16-week intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 90.53 is expected to be seen. There is no chart resistance above until the all-time intraweek high at 95.21 is reached, meaning that an attempt to reach and beat the all-time high is what the bulls will try to do this week. It is important to note that Pfizer (PFE) announced their successful vaccine and the stock rallied 13.4% immediately thereafter but is now (5 days later) trading only 5.8% higher in price. MRNA has rallied 19% in value during the same period of time, suggesting that the traders have "more than anticipated" the announcement of their vaccine success. As such, consideration to taking profits on all extra positions (other than the buy and hold) should be considered, especially immediately thereafter the results are announced. As far as support below, there is no support until the 80.00 level is reached and even then that support is only on a daily closing basis. As such, the risk/reward ratio with the stock closing on Friday at 89.39 is a negative one with only $5.82 per share profit potential to the all-time high and $9.39 per share risk down to support. Probabilities favor the bulls but taking partial profits is recommended.

NEM generated a red weekly close, making last week's weekly close at 68.14 into a successful retest of the double top on the weekly closing chart at 69.61/69.20. Normally, this would be reason enough to take profits and exit the held positions but given the reason for the red weekly close (fall in price of Gold based on the announcement of the vaccine), it suggests this red close was more panic driven than fundamentally supported. Nonetheless and knowing that the fate of the stock is on the shoulders of Gold, Gold action this week needs to be monitored closely (see Gold evaluation above). The stock did not sell off all that much after last Monday's announcement and did build daily close support at 64.89 that also additionally supported by a close on August 27th at 64.76, meaning that as long as that support is not broken, the bulls will remain with the edge. Evidently, this coming week is pivotal right across the board with Gold and the indexes and therefore by next Friday the chart outlook should be clear. On the weekly closing chart, there is clear (and likely pivotal) support at 63.85 that if broken would be a negative sign and reason to take profits. Probabilities slightly favor the bulls.

ORCL generated an uneventful weekly close, having closed only $.011 cents above last week's close in spite of the strength seen in the index market. The bulls were unable to break a "minor" weekly close resistance at 57.39 that suggests the traders continue to lean to the downside. In addition, the stock did get up as high as 59.08 on Monday but then spent the rest of the week straddling last week's close, meaning that there was no buying interest of consequence. The stock did close in the lower half of the week's trading range, suggesting further downside below last week's low at 56.10 will be seen. The recent intraweek low is at 55.14 and if that level is broken this week, further downside will be seen with the immediate target being the 200-day MA, currently at 54.24 and a possible midterm target of reaching 200-week MA, currently at 50.78. Nonetheless, if the low at 55.14 is not broken this week and the stock does get below 56.10 but then begins to rally, consideration should be given to taking profits. Pivotal and indicative support is found at 53.68. On the opposite side, pivotal resistance is found at 59.08. Probabilities slightly favor the bears.

QQQ generated a negative reversal week, having made a new 10-week high but then closing red on Friday. In addition, a failure signal on the weekly closing chart was given, having closed below the previous all-time high weekly close at 292.53. By the same token, the bulls were able to rally the stock enough to close in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 299.14 than below last week's low at 280.62. Nonetheless and as stated above in the index evaluation, this coming week is looking to be pivotal and as such and based on the closes and the action seen last week, everything is unclear right now, meaning that following the charts other than on a closing basis, is impossible. There is some intraweek resistance at 297.46 that is likely to be reached but if not broken, the traders will turn to the sell side. Pivotal support is found at last week's low at 280.62 that if broken, would like mean the breakaway gap at 276.82 will be closed. If that happens, the bears will gain a decided edge. The fact that the runaway gap was closed last week and the breakaway gap beckons, I would give the bears a slight edge this week.

RIO generated follow through to the upside, a green weekly close, and a close near the high of the week, suggesting further upside above last week's high at 63.69 will be seen this week. The target for the bulls is closure of the gap up at 63.82 that is now a strong magnet for closure. Nonetheless and using the weekly closing chart, nothing was resolved this past week as the stock closed on Friday in an established resistance area between 62.15 and 62.78 (closed at 61.52), meaning that next Friday's close is pivotal. A red close below 62.15 or a green close above 62.78 will likely predict what will happen the rest of the year and into the first 3 weeks of the New Year. On a daily closing basis, a close below 60.68 would give the bears an edge for the week, while a daily close above 64.60 an edge for the bulls. Based on the recovery seen during the last 2 weeks, I would say the probabilities slightly favor the bulls.

SRUTF generated a very uneventful week, having broken no resistance or support levels and closing only $.001 cents from last week's close. There is intraweek support at .03 and pivotal at .025 and resistance is found at .049, at .0659 and long term pivotal at .080. Probabilities slightly favor the bulls.

W generated a new 15-week intraweek and weekly closing low and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 225.05 will be seen this week. The clear break of support suggests that the 200-day MA, currently at 192.60, is a clear objective for the short term. Then again, with this week being strongly pivotal for the index market, watching what the indexes do is recommended when looking to get out of the short positions in the stock. Using the weekly chart, there is no established support of consequence until the previous all-time weekly closing high at 169.69 is reached. If the 200-day MA is broken and confirmed, that would be the downside objective. Nonetheless, consideration should be given to covering shorts on any drop below $200. Pivotal resistance is now found at 261.13. If that level is broken, the bulls will gain the edge back. Probabilities favor the bears.