AGCO broke nearby support on Friday due to a report that tractor sales in Canada were flat for the year. I was not paying attention on Friday and did not have a hard stop loss in place or otherwise I would have liquidated the positions for a small loss. Now that the near-by support at 75.16 has been broken, I have had to look at the mid-term prospects and they are not all that negative, though the first two days of the week are going to be important. The stock fell down to the 200-day MA, currently at 73.89 and closed on the low of the day, meaning that follow through below Friday's low at 73.66 is expected to be seen on Monday. If a break of the 200-day occurs and is confirmed, then the longer term outlook for the stock may change. For now, it remains the same. The next intraweek pivotal support level is at 72.64 and if that level breaks, then a drop down to the $65-$66 level is likely to occur. As such, the new stop loss is at 72.54. On the other side of the coin, if the bulls can rally and establish another successful retest of the MA line, then the stock will have at least a 77.77 bounce objective. In August, the MA line was broken on 2 occasions with the first one happening for only 1 day but the second one happening for 3 days. Nonetheless, on that occasion and once the bulls again established themselves above the MA line, a new all-time high was made 10 weeks later. For now, it is important that the support at 72.64 is not broken and that a confirmed close above the line occurs. Probabilities favor the bears this week.

ARNA generated a positive reversal week, having made a new 9 week 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 46.85 is expected to be seen. If that occurs, last week's low will become a successful retest of the important and pivotal support at 43.09 and that should stimulate new buying interest. The stock is now showing 3 lower highs than the previous ones, meaning the bears have the edge. The most recent high in that pattern is at 47.77 so that level is now pivotal short-term resistance. The stock closed on the low of the day on Friday, suggesting further downside below Friday's low at 46.13 will be seen on Monday. There is established intraweek support at 45.28, at 44.94 and at 44.33 and one of those levels (if not all) are likely to be seen this week. Nonetheless, the key for the week will be last week's high at 46.85. A break of that resistance will give the bulls a slight edge. Probabilities slightly favor the bulls this week.

AU generated a negative reversal week, having gone above the previous week's high by 3 points but then closing red and in the lower half of the week's trading range, suggesting further downside below last week's low at 21.22 will be seen this week. Daily close support is found between 20.60 and 21.00 and the stock is likely to close at some point within that trading range this coming week. What happens then, will likely be indicative. Gold has short-term pivotal support on the daily chart at 1560.40, which is where it closed on Friday, meaning that Monday's close does have some short-term importance. For longer term importance, the previous high weekly close at 1537.60 is important as a close below that level will give a failure signal. Monday's close will be important for the short-term and next Friday's for the longer term. Intraweek resistance is at 1566.30 that if broken would suggest the bulls remain in full control. As far as the stock is concerned, there are no close by support levels of long term importance. Nonetheless and for the bulls, the 23.85/23.70 level is pivotal resistance and now strengthened because a double top is now in place there. Probabilities are evenly matched for this week, though very slightly favor the bulls.

COF generated the 4th red weekly close in a row but did 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 102.78 than below last week's low at 99.83. Using the daily closing chart at the beginning of the week is going to be important as a close above 102.51 or below 100.08 is likely to be indicative of short-term direction. The bulls are still in control of the stock and therefore the probabilities favor them. This 4 week dip might just be a needed correction before resuming the uptrend. The company reports earnings on Tuesday January 21st but being in the financial arena, the earnings reports this week will have some impact, meaning that very little is expected to happen on Monday but with the earnings quarter starting on Tuesday with financial companies reporting, what the stock does then is likely to be important. As of now and based on the bounce seen at the end of the week and where the index market is, the bulls remain with the edge. Evidently, a drop below last week's low will favor the bears.

CRON closed below the most recent low weekly close at 6.88 (closed on Friday at 6.79) and that continues to suggest that the stock remains in the $6-$8 trading range that I mentioned many weeks ago. The stock closed in the exact middle of the week's trading range, leaving the door open for either last week's high at 7.22 or the low at 6.38 being broken this week. There is daily close support at 6.50 that if broken would suggest the $6 level will be visited. Nonetheless, the chart suggests that more of the same is going to continue to be seen, meaning that for this week the 6.50 and 7.50 levels will be in play without either of them being broken. Probabilities favor a sideways trend continuing.

CVGW made a new 10-month low this past week and closed near the low of the week, suggesting further downside below last week's low at 81.41 will be seen this week. The new low made the sideways trading range between $85 and $100 (in effect for 8 months) get broken and putting pressure on the bulls to defend the stock fundamentally and chart-wise. On a "strong" and positive note, the stock got near to the 200-week MA, currently at 78.64, a line that has not been broken to the downside since June 2009 (10+ years) and with no negative fundamental change having occurred, highly unlikely to be broken at this time and likely to stimulate a resumption of the long term trend or at least a retest of the all-time high at 108.00, made in September 2018 if successfully retested. The line has been tested successfully on 7 different occasions during this period of time and neared twice before, much as this time could be happening. Fundamentally, rating companies have a high buy rating for the stock, meaning that this recent break seems to be a strong buying opportunity. The stock closed green and on the high of the day on Friday, meaning that the first course of business for the week should be to the upside. There is some resistance at 84.00 and then nothing until 85.28, 86.03 and 87.78. The 84.00 level is likely to be seen on Monday and if the bulls can get above that level, another $1.28 rally would likely to be seen. In addition, if 84.00 is broken, it would give the bulls additional confidence that this breakdown is temporary. If last week's low at 81.41 is broken, a drop down to the $80 demilitarize zone is likely to be seen, if not all the way down to the MA at 78.64. Any daily close above 85.96 would suggest the worse is over and that the uptrend is resuming. Probabilities slightly favor the bears this week but this is a buying opportunity. ENG continued to trade in the now 4-month trading range between .96 and 1.11 levels (based on weekly closes) without giving any sign of a breakout or breakdown on the horizon. The company does not report earnings for another 4 weeks, suggesting more of the same will continue to be seen. On a weekly closing basis, pivotal support is found at .90 and resistance at 1.11. With the stock closing at 1.02 on Friday, there is no indication of either one likely to be broken this week. Probabilities favor another uneventful week this week.

FNV generated a red week but then again it was not unexpected as the stock did close the previous week in the lower half of the week's trading range and some downside was expected this week. Nonetheless, the stock still remains in a strong uptrend and above the previous all-time high made 5 months ago, meaning the uptrend remains strong. The stock closed very slightly in the lower half of the week's trading range suggesting an almost even chance of making another new all-time intraweek high above last week's high at 105.87 or going below last week's low at 99.66. The stock did close the breakaway and runaway gaps that had been created the previous week off of the attack on Iran and that means that there are no magnets for this week in either direction. As such, movement will be based on what Gold does. A drop below last week's low will open the door for a failure signal to be given with a weekly close below 99.04. A rally above 103.87 would suggest that last week's high would be tested and perhaps broken. Probabilities slightly favor the bulls.

GS generated a new 20-month weekly closing high and a new 17-month intraweek high. The stock closed on the high of the week and further upside above last week's high at 243.40 is expected to be seen. Minor to decent intraweek resistance is found at 245.08 that if broken would open the door for another leg up to the next resistance of consequence at 255.15. Nonetheless, the company reports earnings this week on Wednesday morning and will be a catalyst for more upside or a correction to occur. Closest intraweek support is found at 229.49 that would likely be reached and broken if the report is negative. Downside target if there is a correction remains at $120. Probabilities favor the bulls but this week will be driven by the earnings report and not by charts, at least after the report. It is unlikely though, that last week's high will be broken before the earnings reports comes out, meaning that Monday and Tuesday should be idling days.

IBM made a new 9-week high and closed on the high of the week, suggesting further upside above last week's high at 137.87 will be seen this week. Nonetheless and in spite of the minor resistance at 136.42 being broken, the stock remains in a bearish inverted flag formation that still projects a downside target of $122 is the bottom of the flag at 130.69 is broken. Short term pivotal resistance is found at 139.12 that if broken would likely negate the bearish flag. The company reports earning a week from this coming Tuesday and that will likely be a deciding factor. For now, the stock will move with the indexes and given that the indexes are not expected to do much this week unless the earnings reports are way out of line, it is likely the stock will do more idling than trending this week. The 200-day MA is currently at 138.08 that if broken and then confirmed with a break of the resistance at 139.12, it would be a meaningful sign for the bulls.

SGMO generated the first green close in 5 weeks and closed near the high of the week, suggesting further upside above last week's high at 8.68 will be seen this week. This was a sign that the low seen 4 weeks ago at 7.86 is now a decent support level and a possible bottom to the recent downtrend, especially since the previous week's low at 7.95 is now a confirmed successful retest of that low. Pivotal resistance and further confirmation (if broken) of a bottom to this downtrend has been established is found at 9.20. A break of that resistance will likely bring new and stimulated buying interest and a rally up to at least 10.59. Support is found at 7.86/7.95 and long term pivotal at 7.70 that if broken would give full control to the bears. Probabilities favor the bulls.

SRUTF bulls were once again unable to generate any follow through to the upside to the previous week's high and the bears took advantage and a new all-time lower at .133 was made. Nonetheless, there seems to be buying interest in this area as the stock did rally to close on the high of the week, once again suggesting that further upside above this week's low at .165 will be seen this week. It is evident that there is no level where support is clear but the bounces seen the last two weeks from the lows of the week, suggest that the $.14 to $,16 level is one where traders are willing to enter as buyers. Pivotal resistance is now found at .18 (.1750 on a weekly closing basis) that if broken would generate a possible bottom to the downtrend at .14 and a rally to test the previous all-time low bottom at .2576. The stock has lost 50% in value over the past 14 weeks and other than the problems found generally in the Cannabis industry, there have been no negative fundamental changes to the company, meaning that it is likely that the downtrend was overdone and that some form of recovery, at least back up to the .25 level, will occur. Probabilities favor the bulls this week.