AXP confirmed the upward break of the 200-week MA, currently at 99.97, having generated a 2nd straight week in a row with closing above the line. That has not happened since March. The stock did close in the upper half of the week's trading range suggesting further upside above last week's high at 109.03 will be seen this week. Nonetheless, the stock remained below the spike high seen in June at 115.93, meaning that the confirmed break of the 200-week MA is not yet indicative of anything more than some temporary strength, likely due to the DOW making a run to break the all-time high. There is a fair amount of resistance between 110.38 and 111.77 that could be the target for this week if able to get above last week's high. By the same token, getting above last week's high is no cinch as the stock closed on Friday just above the 200-day MA, currently at 104.99, (closed at 105.67) and if that breakout is not confirmed on Tuesday, the bulls will lose their edge. Once before on June 8th the stock closed above the MA line but was unable to confirm that close the following day and what ensued was a 21% drop in price over the following 4 weeks. As such, the close on Tuesday is important. The stock did close near the low of the day on Friday and further downside below Friday's low at 104.48 is expected to be seen to start the week. Tuesday's close is likely to be pivotal for the short-term. Probabilities favor the bears

BTZI generated a new 7-week weekly closing low and closed in the middle of the week's trading range, leaving the door open for a rally above last week's high at .03 or below last week's low at .0233 on a 50-50 basis. The close was at the same level as seen on July 8th, meaning that a green close next Friday would create a double bottom on the chart, while a red weekly close would weaken the chart further. On a daily closing basis, the .031 level is a short-term pivot point to the upside. Last week's low at .0233 is the low seen for the past 4 months, meaning this coming week, a break above or below last week's trading range is likely to be indicative.

CAT generated a new 23-month intraweek high, above decent resistance at 150.55 (high last week was 151.20). Nonetheless, in the end of the week the breakout was not confirmed on the weekly closing chart as the stock still closed below the 23-month weekly closing high at 148.44 (closed at 148.16). The stock did close in the upper half of the week's trading range, suggesting further upside above 151.20 will be seen this week. If that does occur, there is no resistance above 157.72 is reached. The stock did generate a negative reversal day on Friday, having made the new multi-month high that day but then closing red. On Friday, the stock generated an inside day but did close slightly in the lower half of the day's trading range, suggesting a slightly higher probability of going below Friday's low at 146.06 than above Friday's high at 150.78. If that does occur and Thursday's low at 145.30 is broken, the bears will gain control. As such, Tuesday seems to be coming up as a pivotal day for the stock. Probabilities very slightly favor the bears.

CNX generated a negative week in which the support at $10 (both from previous action as well as psychological) was tested. The stock bounced up from that level to close slightly below the midpoint of the week's trading range, suggesting a slightly higher possibility of going below last week's low at 10.00 than above last week's high at 11.24. Nonetheless, the stock closed on the high of the day on Friday and the first course of business for the week should be to the upside. There is resistance at 10.74, at 11.07 and at 11.24 but all of those are considered minor. Evidently, if the bulls are able to break the resistance at 11.27, the mini correction will be over. To the downside, there is minor to perhaps decent support all the way down to the bottom of the $10 demilitarized zone at 9.68. Probabilities for this week do slightly favor the bears as the weekly close support of consequence is found between 9.74 and 9.78 and the stock closed on Friday at 10.54. Then again, if the bears fail to break last week's low at 10.00 and generate a green weekly close next Friday, it will be a show of strength by the bulls. As it is, the reason the stock has generated this mini correction was the successful retest of the 200-week MA 5 weeks ago (currently at 11.96). The fundamental picture currently favors the bulls and ultimately the MA is likely to be broken to the upside. The only question seems to be "when". The action presently seen is one of building a decent support at the $10 demilitarized zone and having gotten down to 10.00 last week might be enough to do that.

CRON is presently in an "idling" pattern, having traded in small trading ranges the past 4 weeks ($.33, $.46, $.48, and last week at $.54 cents) and closing all 4 weeks between 5.31 and 5.65. Simply stated, right now there is no clear direction as the traders are waiting for new news to decide the next direction. With the bears being mostly in control since February, the inability to take the stock lower benefits the bulls. The intraweek support at 5.12 that I have mentioned the last 2 weeks has not broken. What all of this means is that a support base of consequence has been built that is not likely to get broken without some new fundamental negative coming out. By the same token, the action seen does not yet support the upside for anything else that further sideways trading that has been in effect now for the past 6 months. The top of the sideways trading range based on weekly closes is around the 6.70 level. It is likely a rally back up to that level will now be seen whenever this present trading range is over. The recent high at 5.65 needs to get broken to take the stock up to the 6.70 level. Probabilities slightly favor the bulls this week.

ENG made a new 19-week low at $.73 but then rallied at the end of the week to close near the high of the week, suggesting further upside above last week's high at .84 is expected to be seen this week. The $.73 level represents a decent to even perhaps strong and established intraweek support as the stock traded down to (or near) to that level for 20 weeks back in the first quarter of 2018. If the stock gets above last week's high this week, it will become a successful retest of that important and pivotal intraweek support. The stock now shows 5 weeks in a row of red weekly closes and only once before in the past 3 years has that occurred. At no time during this period of time has there been 6 red weekly closes, suggesting this Friday, probabilities favor a green close. On a weekly closing basis, there is decent and pivotal support between .76 and .80 and with the stock having closed at .81 on Friday, which means that support remains unbroken. The fundamental picture is better than it has been for the past 11 years so there is no reason to believe the bears can be successful at this time. This move down has been all about the 11-year established downtrend line that now has 5 points on it. The next attempt to break the line should be successful as 5 tries is usually the max before a break occurs or the company flops and makes a new low. The former is the most likely. Intraweek resistance is found at .90 (minor) and at .99 (minor to perhaps decent). Last week's low should not be broken, suggesting the correction low is now likely set. Probabilities favor the bulls.

MRNA generated a new 8-week intraweek and weekly closing low last week and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 59.01 will be seen this week. The reason for the weakness this past week was the announcement that the vaccine they are working on and promised to provide by the end of the year requires extra low temperatures to keep in storage and a lot of the suppliers that would be supplying the vaccine (such as drugstores) do not have the necessary refrigeration to be able to keep the vaccine in storage. Ultimately though, the volatility and trading ranges being seen, as well as the consistent buying that is seen on dips, still suggests that the traders are ultimately more bullish than bearish on the stock. Tuesday is an important day given that the stock closed on Friday below the 100-day MA, currently at 64.62 (closed at 62.60) and that line has not been broken to the downside on a daily closing basis since February 20th and even then it was only broken for 1 day. As such, if the stock does not rally on Tuesday to close above the line, the break of the MA will be confirmed and additional chart selling interest will likely be seen. Other than the break of the MA, the bears did not accomplish anything else, meaning that last week's action was not indicative or decisive, at least not yet. The stock did close in the upper half of the day's trading range on Friday and the first course of business for the week should be to the upside and above Friday's high at 65.00 is seen and a close above 64.62 occur, much of last week's selling pressure off of the news will be negated. As such, much is riding on what the stock does on Tuesday. Pivotal intraweek resistance is found at 69.35 and pivotal support at 55.81. Probabilities do favor the bulls slightly.

NEM had a somewhat uneventful week but did set up the chart for some indication to be generated this week. The stock did go above the previous week's high but then turned down to close red and in the lower half of the week's trading range, suggesting a higher probability of going below last week's low at 63.35 than above last week's high at 68.55. Nonetheless, the low for the week was made on Friday but then the stock rallied to close near the high of the day, suggesting the first course of business for the week on Tuesday will be to the upside. If that occurs, it will be the second successful retest of the low seen 2 weeks ago at 63.26 and the 3rd successful retest of the low made 4 weeks ago at 62.65. If that occurs, it will give the bulls new ammunition to move higher, knowing that a decent support level at 62.65 has been established. Pivotal resistance is now found at last week's high at 68.55. If broken, a triangle formation will be broken and the bulls will get the ammunition they need to retest the all-time high at 72.22 and likely make new highs as well. As such, this week the 62.65 and 68.55 levels are strongly pivotal. Probabilities slightly favor the bulls.

QQQ generated a key negative reversal week, having made a new all-time high and then going below the previous week's low and closing red and in the lower half of the week's trading range, suggesting further downside below last week's low at 271.80 will be seen this week. The stock fell short of generating a classic key reversal when the bulls were able to close slightly above the previous week's low (previous week's low was 281.27 and the close was 283.58). Using the daily chart, the stock generated what could be a spike low, having dropped 10.5% from the all-time high but then reversing at the end of the week to close 4.2% higher than the low of the week and on the upper half of the week's trading range, suggesting further upside above Friday's high at 288.93 will be seen on Tuesday. If that occurs, it would make last week's low at 271.80 into a potential spike low correction support level. By the same token, a rally above Friday's high could end up being simply a retest of the all-time high at 303.50 before further downside occurs and a stronger correction (other than just 10.5%). A successful retest of the high would mean further downside (more correction) is to be seen. As such, this coming week is not likely to be all that indicative unless a new all-time high occurs or the stock goes below last week's low (the latter being more probable). The weekly chart takes precedence over the daily chart and on that chart, the probabilities strongly favor downside follow through this week. With no support established below until 251.32 (minor) is reached, the probabilities favor the bears. Some minor intraweek resistance is found at 293.55 and if that level is reached and the bulls fail to punch through, based on last week's trading range, it would suggest a potential drop down to 261.85 could be seen this week.

RIO generated a negative reversal week, having gone above the previous week's high and then below the previous week's low and closing red. The stock did made a new 7-week low but then turned around to close in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 62.78 than below last week's low at 59.48. The important thing to consider about the chart and the new 7 week low is that during the past 6 weeks a multiple bottom on the daily chart had been established between 60.18 and 60.46 (around the 60.68 level on a daily closing basis) that was a magnet for the traders to go after and trigger stop losses below. Having made a new 7-week low daily close on Thursday but then negating the break on Friday, suggests the only reason for the weakness was stop loss hunting. Pivotal intraweek resistance is found at last week's high at 62.8 that if broken would suggest the uptrend that had been stalled for 7 weeks has resumed. Support is now found at the $60 demilitarized zone. Probabilities favor the bulls.

SRUTF bulls were unable to generated follow through to the upside as expected off of last week's close and the disappointment caused selling to be seen and a weekly close on Friday below the short-term important support at .05 (stock closed on Friday at .48). Nonetheless, the trading ranges continue to be minimal in nature and the chart shows more disinterest than anything else. The bulls do have to generate a green close next Friday and above the.05 level or face new selling interest. Intraweek support is found at .04 and resistance at .06. Probabilities favor sideways trading this week but a green close next Friday.

W generated a bear market signal on Friday, having closed 23.5% below the all-time high weekly close. On an intraweek basis, the stock has dropped 32.8%. If the bear market signal is confirmed next Friday with another close below 272.58, the bear market signal will be confirmed. The stock did get down to 234.65 this past week but then rallied to close near the high of the day on Friday, suggesting further upside above Friday's high at 271.96 is expected to be seen this week. This is an important gap given that the stock gapped up between 267.43 and 272.10 on August 3rd and this gap is between 273.09 and 271.96. If the bulls fail to close the gap and the stock goes below last week's low, an island formation will have been formed and in conjunction with the bear market signal, it would be a powerful indicator that the stock is heading lower from here on in. Evidently and because of what I stated above, this is a very important week for the stock. There is no resistance above until 296.56 (based on a daily close) and closure of the gap would give the bulls ammunition for a rally to that level and make last week's low a spike low. Failure to close the gap will give ammunition to the bears and give a downside objective of testing the previous all-time high weekly close at 169.83. Probabilities slightly favor the bears but this is a super volatile stock and it is difficult to depend on the signals given (such as the bear market and island formation).