AU generated a green weekly close above the 22.75 level, negating the previous failure signal against the bulls when it closed below the 22.75 level. Nonetheless, the stock did generate a spike rally at the beginning of the week but then turned down to close near the low of the week, suggesting further downside below last week's low at 22.72 will be seen this week. The spike rally and subsequent close near the low does suggest that for the time being the resumption of the uptrend is on hold and that the stock is likely to be trading sideways for a few weeks with likely a slight bullish bias. Nonetheless, last week's high at 25.75 is a new resistance level with a measure of strength given that the 200-day MA is currently at 26.01 and it was tested successfully, meaning the bulls have not yet been able to negate totally the short-term downtrend. There is some minor but likely short-term pivotal support at 22.31 that if broken will give the short-term edge back to the bears. If not broken, the bulls will have the short-term edge. Probabilities favor the bulls this week.

AXP generated a new 10-month intraweek high but then fell back to close on Friday below the previous 10-month high weekly close at 125.04, meaning that the breakout was not convincing. The day of the breakout (Thursday) turned out to be a negative reversal day and that was not negated on Friday, meaning that the bulls continue with the edge but not in full control. The stock does not report earnings until the 26th but this week, C, JPM and WFC come out on Friday and those reports will give some clue as to how the financial industry is doing, meaning that next Friday could be indicative for the stock. For now, pivotal support is at 113.72 and short term pivotal resistance is at last week's high at 125.69, which if broken would suggest a rally to 126.64 would be seen. I don't believe either will be broken this week but I do believe the bias will slightly favor the bears.

BTZI did not do anything indicative this past week (based on the daily and weekly closing charts) but the bulls were able to prevent the bears from making any statement (even a minor one), given that the stock was supposed to follow through to the downside this past week but did exactly the opposite, having gone above the previous week's high rather than below the previous week's low, as was expected. The stock closed on the high of the week and further upside above last week's high at .05 is expected to be seen this week. An important stock in the industry (CRON) did break out and as such, the probabilities favor the stock following suit. Pivotal resistance is found at .055 that if broken, the chart shows open air above until .088. Support remains at .035. Probabilities favor the bulls and also favor a breakout.

CAT generated the biggest up week since June, having moved up this week a total $17.12 cents from low to high (an 8.7% rally). The stock once again, made a new all-time intraweek and weekly closing high and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 197.39 will be seen this week. The company reports earnings on January 29th but the earnings are expected to be 45% lower than last year but the stock is trading 25% higher in price that when it reported earnings a year ago, which is certainly not a positive for further upside at this time. There is no previous established resistance above but the $200 level is a psychological resistance, meaning that it is not likely that level will be broken or if broken, broken by much. The stock has not built any support of consequence below and is strongly overbought and all of this scenario offered above, opens the door for a correction occurring (or beginning to occur) before the earnings report comes out. The previous all-time high weekly close is at 170.41 and I have to believe that level is likely to be tested "before" the earnings report comes out in 3 weeks. As such and based on Friday's close at 194.26, the risk factor for the bulls is about $24 per share and the profit potential is about $6 per shares, making it a 1-4 risk/reward ratio. The momentum is what is keeping this stock going forward but I do believe this momentum will stop this week, especially if the indexes start to reverse downward. I would be a shorter of the stock if the $200 level was reached.

CNX generated a new 9-month intraweek high but a new 12-month weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 12.39 will be seen this week. More importantly, the stock closed on Friday above the 200-week MA, currently at 11.50, which is a line that had not been broken to the upside for the past 2 years and only broken 3 times (for very short periods of time) during the last 6 years. Simply stated, this looks to be highly indicative of the bulls having a strong short term edge if not close to having full mid-term control. There is intraweek resistance at 14.19 that must be broken before full control is established but on a daily closing basis, resistance is found at 12.90, meaning that if the bulls are able to generate a confirmed daily close above that level, the 14.19 will not only be seen but likely broken. To the downside, there are 2 levels of support on a daily closing basis that must be watched (at 12.00 and at 11.50). Evidently, any daily close below 12.00 will negate this breakout on the daily chart but a close below 11.50 will also generate an additional break of support and weaken the hands of the bulls. By the same token, only a daily close below 10.26 would be seen as a true negative. The probabilities favor the bulls given that they have been working building support of consequence since July and that gives the traders confidence that support below is dependable. With this stock having made an all-time high at 116.42 in July 2008 and been in a downtrend all the time since, the probabilities now favor the bulls attempting to reach the 18.16/19.05 level where a break of that resistance would confirm the "long term" down trend has changed. That level is the objective of this breakout. Probabilities favor the bulls.

CRON made a new 15-month intraweek and weekly closing high and this happened after a week when the stock had closed on the low of the week and was under short term bear control. The reason for the move was the Senate runoff elections in Georgia when the Democrats won control of the Senate, which in turn opened the door wide open for Biden/Harris to make Marijuana legal in the U.S. Using the chart, there is resistance at 9.59 (very minor), between 10.39 and 10.56 (minor to perhaps decent), and at 11.90 (decent). With the news and the now likelihood of Marijuana being made legal in the near future, there seems to be no reason for the bears to sell other than at levels of resistance. It must be remembered though, that Cannabis companies are having problems selling their products due to black market sellers than selling because of current restrictions, though certainly the ability to sell in all 50 States will alleviate those problems substantially. As such, this breakout seems to be real and supported but at this time still somewhat limited in scope as to how high the prices will go to in the short-to-mid term basis. One very viable objective to the upside that could be reached within the next 6-12 months is the 15.30 level which has proven to be a resistance of some consequence. Nonetheless, with the stock at $9, it still means the stock could appreciate as much as 66% in value before encountering any chart resistance of consequence. It also needs to be mentioned that the stock is now also showing a breakaway/runaway gap formation that offers an 11.60 objective. The runaway gap between 7.78 and 8.11 is now important support. The gap should not be closed. On a shorter term and on a daily closing basis, the stock should not negate the breakout, meaning a daily close below 8.85 by more than 10 points. Probabilities strongly favor the bulls.

ENG continued the breakout in a strong manner, having broken and closed above another decent weekly close resistance at 3.84. The stock closed in the upper half of the week's trading range, suggesting further upside above last week's high at 5.44 will be seen. This is now the 3rd weekly close resistance level broken, in addition to the 11-year downtrend line. Nonetheless, the stock has reached a level of resistance of long term consequence with yet another decent weekly close resistance at 5.25 that is further strengthened by a previous low weekly close at 5.19, that was the low weekly close following the drop from the all-time weekly closing at 14.71 and from which the all-time high at 17.31 was made thereafter. On an intraweek basis, the stock could get up as high as 5.68 and perhaps even as high 6.47 but it seems unlikely that any further upside could be seen without a new support level getting built. The chart seems to suggest that the $4 level could be the next support level built, meaning the stock could get into a $4-$5 trading range for a few months after this rally is finished. I do plan to get out of all the rest of my positions this coming week, possibly around 5.68 but definitely above $6.

FCEL continued the recent uptrend, having made a new 30-month intraweek high this past week. The stock closed near the high of the week and further upside above last week's high at 16.94 is expected to be seen this week. Nonetheless, the stock is now reaching a level of resistance between $18 and $30 that stopped all rallies for over 1 year 5 years ago and that is unlikely to be broken any time soon. The resistance is minor around the $18 level, becomes decent around $20 and then strong at $30. Though the $30 level could be reached at some point in the future, it is not likely to be reached in the next 9 months. As such, traders will start looking to take profits and trading the stock as soon as the $20 level is reached. The $10 level has now become an established support that won't likely be broken any more, or at least until the fundamental picture changes and if the stock can establish itself this week and next above the $16 level, that level will become minor to decent support. There is an open runaway gap between 18.48 and 19.44 that will likely be the target for closure this week. If the bulls fail to close the gap, a fall back to $16 or lower is likely to be seen. If closed, the breakaway gap at 22.92 will be targeted. I am not planning to follow this stock any more if I am lucky enough to have the stock get up and close both gaps and I liquidate the positions. This stock has been a major pain in my behind for many years and I had given up on ever getting anything back. If I get out at 23.00, I will still have lost over 70% of my initial investment in this stock and that is a good enough reason for not trading it any more. Having recovered among that 30% over 176% of the losses I had in this stock 18 months ago, makes this rally a miracle.

FNV did not follow through to the downside this past week after having made a new 9-month intraweek low the week before and closing on the low of the week, suggesting this past week would bring new lows. Instead, the stock went above the previous week's high and closed green, suggesting the worst is over. All of this happening in spite of the fact that Gold dropped $135 in price this past week. The stock did close in the lower half of the week's trading range and further downside below last week's low at 125.53 is expected to be seen this week. Nonetheless, the previous week's low was 123.75 and if that low is not broken, a drop below last week's low would likely mean a needed/required retest of that low will have occurred, if and when the stock rallies above next week's high the following week. There is a mountain of intraweek support between 123.96 and 125.01 that is likely to hold up. On a daily closing basis, there is support at 128.24, at 125.84, and at 124.52. Any green daily close from here on out, especially if on an intraweek basis the stock goes below last week's low, will be a positive and suggest the worst of the correction is over and a resumption of the uptrend is to resume. The 200-day MA is currently at 137.89 and any daily close above that level would be a strong positive, especially since it would mean the double high on the daily closing chart at 136.52 will have been broken. Probabilities slightly favor the bulls this week.

NEM generated a failure signal against the bears, having closed on Friday above the 60.47/60.50 level that has been a bone of contention since October. The stock did spike up this past week but did not break any resistance levels above and then fell back to close in the lower half of the week's trading range, suggesting further downside below last week's low at 61.66 will be seen this week. The spike intraweek high at 65.78 will now become the new pivotal resistance level. An intraweek drop back down to the $60 level is expected to be seen this week, in fact there is an open gap at 60.53 that is not supported by fundamentals or the price in Gold and as such, should be closed. Nonetheless, the stock broke above the 200-day MA, currently at 61.76, and that line should not be broken to the downside, at least not on a confirmed basis any more, unless Gold continues lower. Pivotal support is now found at 59.42, that is broken would give the bears back full control. Probabilities slightly favor the bulls but some weakness is expected to be seen early in 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 319.39 will be seen this week. Nonetheless, the stock under performed its mother (the NASDAQ all week and was dragged up at the end of the week by the index, suggesting that there is now some reluctance to go higher up. The same situation as with the index applies to the stock as far as there being no resistance above but also no expectation of additional positive news that will support higher prices without some form of correction occurring first. Short-term pivotal support is found at 309.31. Probabilities favor the bears for a red weekly close next Friday.

SRUTF once again stayed in the same trading range as has been seen now for the last 10 weeks in a row, having closed at .0379 on Friday, which is the same area that it has closed at for that period of time. The stock closed on the low of the week, suggesting further downside below last week's low at .37 will be seen this week. By the same token, the action seen in the stock this past week was disappointing given that most Cannabis stocks generated some type of breakout but SRUTF did not budge. There is intraweek support at .03 and pivotal at .025 and resistance is found at .049, at .0659 and long term pivotal at .080. A break above or below either of those two levels would be indicative. I have to say that the probabilities favor the bulls but given the lack of positive action this past week, it is likely more of the same as seen previously will occur.

W generated a positive reversal week, having made a new 5+-month low and then rallying above the previous week's high closing above it and near the high of the week, suggesting further upside above last week's high at 268.67 will be seen this week. It must be mentioned that the stock did get down to the 200-day MA, currently at 226.80, with last week's low at 222.28, which was where the line was at last Monday. With nothing negative happening to the stock or the indexes, the rally was mostly chart oriented as the MA line has not been broken for 7 months. Though the positive reversal week is a short-term positive, no resistance levels of pivotal consequence were broken and the midterm downtrend remains intact with the line of the down channel being presently at 276.00, meaning that the bears remain with some measure of short-term control in a stock that by nature is very volatile. The stock does not report earnings until February 2 and as such, it is likely to move with the indexes. If the indexes start a correction this week, the stock is likely to head lower. In fact, having made a new multi-month low, the chances of at least retesting that low (if not making a new low) are high. For now, I will continue to hold on to the shorts until some resistance level of consequence is broken or a new support base for a rally is built.