AU received some negative fundamental news this past week with the company announcing that they were closing one of their most profitable South African mines and likely for the rest of the year. The stock made a new 16-month intraweek and weekly closing low and also closed below the 200-week MA, currently at 17.19. The fact that this drop was based on a fundamental piece of news to the company and that Gold also received negative news as well, suggests that there is not going to be a recovery of any consequence in the near future. There is one report on Wednesday (CPI Number) that if higher than expected (above .4%) could negate some of the weakness and generate a bit of a rally but the fact is that the stock no longer has the potential for a bullish outlook at this time and probably won't have for another 6 months. As such, liquidation seems to be the only choice available with the only question being "at what price". It is highly likely that a retest of the MA line at 17.19 will occur on Monday or Tuesday prior to the report. It is also possible (perhaps even likely) that a retest of the recent daily closing low at 18.33 (from which the break occurred) will occur as well. No other upside level is likely to be seen unless the inflation report is much higher than anticipated. If it is better, the $20 level could be seen. Nonetheless, it is highly doubtful that much higher prices will occur until the mine is re-opened. To the downside, there is some intraweek support at 16.00 (last week's low was 16.04), again at 13.70 and decent to strong at 12.67. Probabilities favor the bears.

BTZI generated another green weekly close (3rd in a row) and did move up to test the 200-day MA, currently at .077, with a high last week at .08. The stock closed in the upper half of the week's trading range and further upside above last week's high at .08 is expected to be seen. It should be noted that the stock did generate an intraweek drop down to .0516 on Friday and then turned around to close unchanged at .071, meaning that if the stock goes above Friday's high on Monday, a successful retest of the intraweek support at .05 will have occurred, giving the bulls some added ammunition. It also needs to be mentioned that Bitcoin did generate a buy signal on the weekly closing chart the week before that was confirmed on Friday with another green close. The daily closing chart also now shows 2 buy signals having been given, meaning that Bitcoin is likely to continue moving higher, which is of benefit to the company given that they own 1000 Bitcoin miners. In the stock, there is intraweek resistance at .08, daily close resistance at the MA line at .077 and weekly close resistance at .082 (previous low weekly close that when broken took the stock down below .04). A close above those levels this week would offer open air to the .10 or even perhaps to .12 level. At the .12 level is where some resistance of consequence is seen. Probabilities favor the bulls.

CNX generated a failure signal on the weekly closing chart, having closed on Friday below a previous high weekly close on consequence at 12.00. The close was only below support by $.11 cents and more importantly, the 200-week MA, currently at 11.63 remained unbroken but if another red close occurs next Friday (and below the MA), the chart outlook will change indicatively so. The stock is in ore business and commodities are presently and fundamentally under sell pressure so the CPI number on Wednesday is of importance to the stock. Evidently, if the stock generates a green close next Friday at least 10 points above 12.00, much of the sell pressure will be eliminated. The stock did close near the low of the week, suggesting further downside below last week's low at 11.58 will be seen this week. To the upside, a rally above 13.06 will give the edge back to the bulls. Probabilities do slightly favor the bears this week.

CRON generated an uneventful inside week but did close in the upper half of the week's trading range, suggesting further upside above last week's high at 7.61 will be seen this week. The company did report earnings on Friday and they were substantially better than expected (+$.15 versus expected -$.09). Nonetheless, the better than expected earnings did not generate any kind of reaction. On the other side of the coin, the stock has been under sell pressure during the past 7 months but a double bottom has now been built over the past 2 months that suggests that the bears have run out of ammunition. If the bulls can get above the high made the previous week at 7.76, the double bottom will be confirmed and with a positive earnings report, a recovery rally of some consequence is likely to occur. Above 7.66 there is no resistance until the 8.51/8.64 level is reached (previous intraweek high and 200-day MA). Evidently, any drop back down to the double bottom at 6/95/7.02 will be a negative. Probabilities favor the bulls.

DCTH generated an uneventful inside week but did close near the high of the week, suggesting further upside above last week's high at 10.47 will be seen this week. The stock has built a bullish flag formation with the flagpole being the move up from 8.80 to 10.63 and the flag is the action seen the 6 days with a low at 9.58. A break above the flag top at 10.63 will offer an objective of 11.41. By the same token, there is no intraweek resistance above 10.62 until the 12.20/12.24 level is reached, suggesting the bulls could see a nice 19% run up over the next week or two. Pivotal support is now found at 9.58. Probabilities favor the bulls.

ENG made a new 9-month intraweek low but then on Friday it generated a positive reversal rally to close in the upper half of the week's trading range, suggesting further upside above last week's high at 2.64 will be seen this week. The positive reversal was based on some fundamental news that was released on Friday morning (click link here) that had nothing but positive information involved regarding changes in the company to promote itself in a bigger way from here on in. The best piece of news in this change is that it was announced that in July, $4.9 million of debt was forgiven, meaning that "it leaves the company with very little debt and a very healthy balance sheet". There is now a potential for a double bottom on the intraweek chart at 2.01/1.95, if and when the stock does get above 2.64 this week. Minor intraweek resistance is found between 2.71 and 2.79 and on an weekly closing basis, at 2.88. If those levels are broken, there is no intraweek resistance until 3.80 is reached. The 200-week MA is currently at 3.51. A confirmed close above that line will change the chart to a short-term bullish scenario. Due to the positive news, the 2.28 level on an intraweek basis should now be support. Probabilities favor the bulls.

LNG generated an uneventful inside week but did end up with a red weekly close and with the indexes all having made new all-time intraweek and weekly closing highs, it can be said the bears won the week. The fact remains that the stock now shows 2 successful retests on the daily closing high at 89.48 and the bulls had every opportunity to negate that this week but failed. On an intraweek basis, the stock shows pivotal resistance at 87.16 and pivotal support at 83.15. Whichever of those levels get broken will be indicative. Stock closed on Friday at 84.64.

MRGE generated a positive reversal week, having made a new 1-year weekly closing low and then closing green and near the high of the week, suggesting further upside above last week's high at .176 will be seen this week. It is important to note that the bulls did accomplish something as the stock closed on Friday above the .15 level that was pivotal daily close resistance 16 months ago that held up for 4 months before being broken. That level was broken the previous Friday and was not negated until this past Wednesday. That negation has now been confirmed with 3 days in a row of closure above that level. It is not a big sign but at this price and with the amount of drop the stock has seen without any negative fundamental changes, it does suggest that the worst is now over. Pivotal daily close resistance is found at .175 and weekly close resistance is found at .17. Probabilities favor the bulls.

NEM generated a new 4-month weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 59.16 will be seen this week. Nonetheless and in spite of Gold making a new 6-week intraweek low, the bears were unable to break the intraweek low seen 3 weeks ago at 59.03, meaning that this stock continues to be the best acting Gold stock around. On an intraweek basis, there is additional support at 58.29 and given that the inflation number comes out on Wednesday, probabilities favor some rally being seen at the beginning of the week. The stock gapped down on Friday between 61.12 and 60.44 and since there was no news to support the gap, it is likely the gap will be closed sometime between Monday and Tuesday. Nonetheless and unless the inflation numbers come in much higher than anticipated and the bulls are able to get above 63.45 (now pivotal intraweek resistance), probabilities do favor further downside with a downside objective of 56.55. It is likely that for the rest of the year, the stock will trade between 56.55 and the 200-day MA, currently at 62.78. Simply stated, this stock should also be liquidated this week if the inflation report does not stimulate some indicative movement to the upside.

PGEN generated a 2nd uneventful inside week with a close near the high of the week, suggesting further upside above last week's high at 5.71 will be seen this week. Nonetheless, the company reports earnings on Monday after the close and that is likely to be a catalyst for movement. The earnings are expected to be at -$.12 cents (last quarter it was -$.11 cents), meaning that it is not expected that the earnings will be a strong catalyst this quarter. The company is more dependent on guidance on the expectation of it clinical trials on the products they are working on than on earnings, which at this time are not expected to grow or shrink by any unexpected amount. The daily chart does suggest there will be a slight bias to the upside this week with the 6.20 level as the objective. Intraweek support is now found at 5.42 and pivotal at 5.04. Probabilities very slightly favor the bulls this week.

QQQ made a new all-time intraweek high this past week at 369.91 but unlike the NASDAQ the bulls failed to make a new all-time weekly close, having fallen short by $.15 cents. This same situation applies to the stock as with the index, meaning the bulls have the edge but the upside is likely limited. The stock did close in the upper half of the week's trading range and further upside is expected to be seen this week. The only resistance that can be imagined is the $370 demilitarized zone, meaning that a stop loss should be placed at 370.35. Other than that, I have no other comment at this time. The position shorted on Friday is in profit right now and the stop loss mentioned keeps the potential loss to a minimum, meaning there is no reason to look to cover the short at this time unless the stop loss is hit.

SNDL generated a very uneventful inside week and a close that did not clarify anything. The stock has been in this narrow trading range between .7637 and .8888 for the past 16 days without any indicative action occurring. The company reports earnings this week on Thursday after the close and that is likely to be a catalyst for movement. Probabilities do slightly favor the bulls given that the stock has been trading at support (200-day MA) for the past 3 weeks with the bears unable to break the line, meaning that the bears need negative news to break that important line. A break above or below the levels mentioned above would be indicative.

SRUTF made a new 6-month intraweek and weekly closing low this past week and closed in the lower half of the week's trading range, suggesting further downside below last week's low at .0357 will be seen this week. The well-established intraweek support at .038 has been broken but the weekly close support at .0376 has not, meaning that the bears have not yet made an indicative statement of weakness. By the same token, there seems to be no interest in buying the stock at this time, meaning that this stock needs to be stored aside and kept until something new of consequence occurs. A weekly close below .0357 would be indicative of new weakness. Pivotal resistance remains at .0485 on a daily closing basis.