AXP generated a green weekly close that makes the previous week's close at 117.35 (113.72 on an intraweek basis) into a pivotal support level that if broken will give the bears back their edge and possibly a measure of control. On a daily closing basis, the 113.67 level is just as important. On an intraweek basis, there is some resistance at 122.43 that could be short-term pivotal. With the new administration taking over in 2+ weeks and the 7-year history of the indexes and the New Year action (mentioned above), the probabilities slightly favor the bears. Nonetheless, the stock is still in an uptrend and the burden of proof is on the shoulders of the bears.

BTZI bulls were unable to generate any follow through to the upside after last week's positive action and close near the high of the week and therefore a red close was generated on Friday and at a weekly close support level at .0395 (closed at .0394 on Friday). The stock has now traded in a .02 trading range (between .035 and .055) for the past 52 trading days and a break above either of those levels is likely to bring about further movement in that direction. The stock closed near the low of the week, suggesting further downside below last week's low at .037 will be seen at the beginning of the week, meaning that the bears will have to deal with the pressure first. By the same token, the Biden administration takes over in 18 days and that is supposed to be a fundamental positive to the Cannabis industry and as such, the probabilities have to favor the bulls this week and holding up support.

CAT generated a positive reversal week, having made a new 4-week low and then closing above the previous week's high and only $.19 cents below the all-time high weekly close at 182.21. The stock closed on the high of the week, suggesting further upside above last week's high at 182.23 will be seen this week. The positive reversal, the close near the all-time high weekly close, and the close on the high of the week strongly suggest that the bulls remain in full control and that further gains are to come. By the same token an on an intraweek basis, the bulls still have 2 obstacles to overcome at the most recent high at 183.33 and at the all-time high at 183.81 and given that New Year's history during the past 7 years suggests that a correction will begin the first or second week of the year, does detract from the strength being seen in this stock at this time. Evidently a move below last week's low at 175.11 would be an indicative negative but also a daily close below 176.58 do the same given that a double low close at that level would be broken. As such, 175.11 and 183.81 are the levels to watch this week. Whichever one is broken, would give a decided edge to bulls or bears. Probabilities slightly favor the bulls.

CNX generated a wild week, starting with the $1.26 trading range seen, the gap created on Monday between 11.45 and 11.27, the break of support on the daily chart at 10.55, the positive retest of the intraweek support at 10.00, the successful retest of the 200-day MA, currently at 9.92, and then finishing in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 11.27 than below last week's low at 10.01. None of this was surprising though, given the pivotal nature of the recent highs that are not yet ready to be broken and the recent volatility that has increased due to the interest in trading the stock. What now? Is the question. The stock has now traded for 37 weeks in testing and trying to break the 200-week MA, which is currently at 11.50. For the past 25 weeks (last 6 months), all dips have been bought and a support base of "consequence" has now been built. In addition, the action seen at the end of last week continues to show buying interest on dips. Metals and ore have been making strides and the dollar continues to weaken and there are no signs that will change with the new administration, meaning that the probabilities favor the bulls and a breakout above the MA line within the next few weeks (if not sooner). For this week though, the gap at 11.45 is likely to be closed but a breakout is not likely to occur, meaning that for the next 1-3 weeks the stock is likely to trade within the 10.00 to 11.70 level but with higher lows and lower highs, which do favor the bulls overall. Probabilities favor the bulls this week.

CRON continued to show weakness, having generated another red weekly close (the 4th in a row) and closing on the low of the week, suggesting further downside below last week's low at 6.90 will be seen this week. Nonetheless, the stock is now reaching an area between 6.52 and 6.63 that is short term pivotal but could also be decisive for the midterm. That area represents a gap that was created on November 6th and that caused the stock to rally up to 9.15 level and that brought about the break of 2 decent intraweek resistance areas at 8.13 and at 9.00 and the break of the previous downtrend when a weekly close above 6.75 was generated. This all means that the gap should "not" be closed and the stock not generate a weekly close below 6.75. With the stock likely to go below 6.90 this week, new purchases (or addition to presently held positions) should be strongly considered using a 6.52 stop loss. The Biden administration should be positive to the Cannabis industry and positive to the stock, meaning that fundamentally the stock should be moving higher and that thought is now put to the test on the charts this week by holding on to the support found here. Interesting to note that if the support here holds (likely), there is no established resistance above until the 8.13 level, meaning that a rally back up to that level could be seen in as little as 2 weeks. Probablities favor the bulls.

ENG had another strong bullish week, having confirmed the break of the 4-year weekly closing high at 2.88 seen last week with a close at 2.95 and this Friday with a close at 3.20. The stock closed in the upper half of the week's trading range, suggesting further upside above last week's high at 3.56 will be seen this week. On a weekly closing basis, there is no resistance above until the 2014 high at 3.84 is reached. Above that, there is weekly close resistance at 5.25 and at 6.19. The probabilities favor the stock rallying up to the $5 level which is where game changing resistance is found. So far, this rally has been more about short-covering from an 11-year downtrend than about anything else. On a daily closing basis, support is now found at 2.86, which should not be broken if the stock is to continue higher (likely). Evidently this week, the objective will be to generate a close above the 3.84 level as well as going above the high seen 6 weeks ago at 4.32. Probabilities strongly favor the bulls.

FCEL generated an inside week but a red weekly close and in the lower half of the week's trading range, suggesting further downside below last week's low at 10.30 will be seen this week. A retest of the breakout above 200-week MA, currently at 9.67, is the objective. Nonetheless and on a daily closing basis, support is found at 10.20 that should hold up if the stock is to go higher as the chart suggests. Daily close resistance is found at 13.42. Probabilities favor the bears this week but overall, the chart favors the bulls for further upside rally up to the $20 level.

NEM bulls failed to make a statement, having generated a red weekly close in spite of Gold closing higher. The 60.47/60.50 level has been short-term pivotal for the past few weeks and on Friday the stock closed at 59.89 and near the low of the week, suggesting further downside below last week's low at 59.42 will be seen. This was not a negative statement but one that suggests the stock is not yet ready to go higher. There is intraweek support at 59.28 and then at 58.29, one of which is likely to be seen this week with the former being probable and the latter unlikely. By the same token, neither level of support is pivotal. Last week's high at 61.64 is pivotal as a break and close above that level would mean the 200-day MA, currently at 60.25, would be broken to the upside again. The truly pivotal area of resistance above is at 62.29. A break of that level would give control back to the bulls. Probabilities slightly favor the bulls though some weakness could be seen at the beginning of the week.

QQQ once again made a new all-time intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 314.69 will be seen this week. There is no resistance above so unless the New Year's history outlined above of corrections starting the first or second week of the New Year comes true, the bulls will remain in full control. There is no support below until the low seen on Monday 14 days ago at 303.60 is reached, meaning there are no pivotal levels close by that would work as triggers for selling. As such, a pause in upside momentum is the only signal that needs to be paid attention to. Probabilities favor the bulls.

SRUTF generated almost the identical kind of action as seen the previous week, having generated a low of .034 (vs the previous week at .0329) and the high at .041 (vs the previous week at .0399). The close was green but only by .009 (.0379 vs the previous week at .0370). By the same token, this is basically the same area seen for 9 weeks in a row, meaning another uneventful week. The last 8 weeks, the low weekly close has been .036 and the high weekly close has been .0423, meaning there seems to be no interest at this time from neither the bulls nor the bears. There is intraweek support at .03 and pivotal at .025 and resistance is found at .049, at .0659 and long term pivotal at .080. For the past 33 weeks, with the exception of 2 weeks, the stock has been mainly stagnant in price.

W made a new 23-week weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 224.03 will be seen this week. The 23-week intraweek low is at 221.09 and that is the target support that the bears will be looking to break this week. On an intraweek basis, below 221.09 there is no support until 205.80 and that support is considered minor. Using the daily closing chart, the 200-day MA is currently at 221.54, meaning that there will be a battle between the bulls and the bears at the 221.00 level. A close below the line will generate new selling, especially if confirmed. If that occurs, the likely downside target will become the previous all-time weekly closing high at 169.89. It must also be mentioned that there is a channel built using all the intraweek highs seen since August and the low seen the last week in August that gives the $175-$180 as the objective to be reached on a channel basis. It is evident that the 221.00 level on a daily closing basis is the key this week. The 200-day MA is always an important and indicative line that the bears need to break in order to generate any further downside. The probabilities do not favor the line breaking (on a daily closing basis) unless the uptrend is basically over. A correction in the indexes might help decide that question.