AU generated a red week and a close on the low of the week, suggesting further downside below last week's low at 22.03 will be seen this week, The stock did break an established level of support between 22.36 and 22.50 that does weaken the chart short term, meaning the bears have the edge at this moment and the bulls in a position of having to defend the remaining 2 levels of support at 21.15 and at 20.15, which the latter is pivotal longer term. Resistance is now strongly pivotal between 25.75 and 26.13, which represent the most recent high as well as the 200-day MA. For this week, the traders will likely wait to see what happens immediately after the new administration takes over and either push lower or recover. Probabilities slightly favor the bulls.

AXP generated an inside week that clarified nothing. Traders await direction based on what the indexes do. The company reports earning on Tuesday of next week. The stock remains will a bullish bias for now. On a daily closing basis, pivotal resistance is at 125.04. As far as support and also based on a daily close, there is short term pivotal support at 121.06 and midterm pivotal support at 111.12. The stock closed very slightly in the upper half of the week's trading range, suggesting a slightly higher probability of going above last week's high at 124.50 than below last week's low at 119.39. Nonetheless, at this time the stock is dependent on what the indexes do.

BTZI once again, did not do anything indicative this past week, having generated an inside week and a close in the middle of the week's trading range. An important stock in the industry (CRON) did continue to move higher and 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 slightly favor the bulls.

CAT continues to be one of the stronger stocks in the market, having generated once again a new all-time intraweek and weekly closing high this past week, in spite of the indexes generating negative reversal weeks. Nonetheless, the stock did generate a negative reversal day on Wednesday with follow through the next 2 days and did close in the lower half of the week's trading range, suggesting further downside below last week's low at 190.31 is likely to be seen this week. The stock has reached a decent psychological resistance level, having had a high this past week at 200.17. It is likely the stock will follow suit to the index market (regarding direction) and also move back down to test the previous all-time weekly closing high at 170.41. Evidently, if the stock goes below last week's low this week, the momentum to the upside will be halted and profit taking likely to occur. As such, the 190.31 is short-term pivotal this week. Below that level, there is no established support until the $175-$176 level is reached. Probabilities continue to favor the bulls but this is a short-term pivotal week and with the probabilities favor the indexes heading lower, the stock might do the same.

CNX continued to move higher this past week, having made another new 9-month intraweek high and another new 12-month weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 14.09 will be seen this week. Nonetheless, the stock is approaching a level of intraweek and weekly close resistance that has stopped the stock from going higher on 5 different occasions over a period of 18 months, going back to the most recent one 9 months ago and then going back to the period between March 2017 and November 2017. The intraweek level of resistance during this time was between 14.19 and 14.82 and on a weekly closing basis, between 13.75 and 14.34. As such, this stock must be watched closely this week for clues as to whether this rally is strong enough to plow through all this established resistance of whether the stock will do what it did previous and establish a trading area between $11-$12 and $14.00/$14.50, with the latter being the most probable. This means that as of now, I am looking to take profits on all held shares. The 2 key issues to watch this week is 14.82 and on a daily closing basis at 14.41. If the bulls are able to get above both of those levels, then further upside toward the $17 is likely to be seen. If unable to get above those levels and "any" red daily close occurs from here on in, liquidation of positions should be considered. By the same token and as mentioned last week, the ultimate objective to the upside is the $18-$19 level, meaning that even if liquidation of the positions occurs, this is still a stock to purchase on dips.

CRON followed through to the upside after last week's breakout and made another new 15-month intraweek and weekly closing high. The stock once again closed in the upper half of last week's trading range and further upside above last week's high at 11.75 is expected to be seen this week. Nonetheless, the stock did encounter selling after reaching the week's high, given that it backed off to close 7% below the week's high and generated a negative reversal day on Friday, having made the new high that day and then going below the previous day's low and closing red. The stock has rallied 42% in value over the past 2 weeks and this red reversal day on the daily chart suggests that the short-covering binge is now over and that the bulls need to make a case for further upside based on fundamentals and not so much on the chart. To the downside, there is some minor intraweek support at 10.58 that if reached but not broken, would likely generate a new round of buying interest. If broken, the $10 demilitarized area would be the immediate target but there is no established support below 10.58 until the $9-$9.50 level is reached. If the 10.58 level holds up, rallies up to somewhere between 12.15 (minimum) to as high as 14.00 (maximum) could be seen. On a weekly closing basis, there is quite a bit of resistance starting at 11.99 and up to 12.72, meaning that traders will most likely start taking profits when the stock reaches that area. On the same weekly closing chart, the $10 level is now support. Probabilities favor the bulls but traders should consider taking profits on rallies above $12 and purchasing back those shares on drops down to $10.

FNV made a new 9-month intraweek and weekly closing low and closed on the low of the week, suggesting further upside above last week's low at 121.06 will be seen this week. It became evident when the 200-day MA got broken in November and then retested successfully twice thereafter, that the previous all-time high daily close at 120.61 was the downside target and given that level is only $.60 cents below Friday's close, that level is likely to be seen this week. Further support is found at 119.18, which represents the previous all-time high weekly close. Nonetheless, with the stock still in a long term bull trend and it is not likely that "any" failure signals will occur, it is only likely the stock will get down to the $120 level and 'not" close below 120.61, and not get down to test the weekly close support. As such, the expectations are for the stock to close somewhere near the 120.61 level one day this week and then generate a reversal and likely a green weekly close next Friday. By the same token, it can be said that the close on Friday at 121.20 is close enough that if the stock moves higher from here, a drop down to that level will not be needed to confirm a successful retest of that previous high daily close. On a daily closing basis, a close above 124.56 would now be a small sign that the correction is over. Probabilities favor the bears at the beginning of the week but the bulls for the latter part of the week.

FPRX made a new 9-week low and closed on the low of the week, suggesting further downside below last week's low at 14.22 will be seen this week. By the same token, it can be surmised that the recent weakness seen was mostly to retest the breakout above the 200-week MA, currently at 14.50, which had not been broken to the upside for 3 years prior, suggesting that it needed to be tested before renewed buying interest came in. As such, the close next Friday is pivotal as another red close will give a failure signal and a green close will mean a successful retest of the line has occurred. Nonetheless and given that the stock closed weakly and slightly below the line on Friday and the bulls cannot afford to allow much intraweek weakness to be seen this week, it must be noted that the breakout that began to occur 10 weeks ago was after a break of what was then a pivotal daily close resistance level at 13.58. As such, any daily close below 13.58 would now be seen as a bearish statement of failure, meaning that the most that can be seen on any day this week is no more than a drop of $.64 cents from Friday's close (based on a daily close). I did purchase half the shares I was looking to purchase on the mention this past week and will purchase the other shares on any drop below $14 (as close to 13.58 as possible) to fulfill the mention. Stop loss will be as 13.48 (based on a daily close). Any daily close above 15.96, will likely confirm the retest was successful and new buying is likely to appear. Probabilities favor the bulls.

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 did not follow through to the upside after the previous week's close on the high of the week and ended up having an inside week but with a red weekly close and on the low of the week, suggesting further downside below last week's low at 310.58 will be seen this week. Once again, the stock underperformed the mother (NASDAQ) given that the index made a new all-time high but the stock didn't. This is a sign of weakness as the stock has been know more to be the leader than the follower (between mother and son). Just like with the index, there is pivotal support below at 305.18 that if broken, opens the door for a drop down to the previous all-time weekly closing high at 292.52, given that there is no other support below. Evidently, the recent all-time high at 319.39 is now pivotal resistance that if broken, will negate any beginning-of-the-year correction. Probabilities favor the bears.

SRUTF generated a green weekly close on Friday and it was the highest weekly close in the past 5 weeks. Nonetheless, nothing of consequence occurred given that the weekly close resistance above at .049 was not broken (stock closed on Friday at .04). By the same token, all Cannabis stocks are beginning to move higher and that suggests that it is only a matter of time before this stock moves higher as well. 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 this week but given the lack of a positive statement of note, the movement higher is not likely to occur until the rest of the Cannabis stocks confirm their own statements.

W generated a 32% rally from low to high and in the process, made a new all-time intraweek high at $369, above the previous one at $349. Nonetheless, the breakout was not confirmed when the stock not only closed below the previous all-time high weekly close at 340.66 but also below the weekly close resistance level from September at 305.36 and also below the weekly close resistance from November at 301.13, meaning that the breakout was without merit and likely a stop loss triggering anomaly due to the break above the established channel line. The stock closed in the lower half of the week's trading range, suggesting a higher probability of going below last week's low at 249.54 than above last week's high at $369. By the same token and having seen the largest weekly trading range ever, the probabilities favor an inside week in which the traders figure out "what is going on and what is likely to happen" and that may depend on what the indexes do. One thing that is likely to happen this week is a retest of the channel line that got broke, which presently is found at $274. There is some minor intraweek support at 272.89 that is likely to stand up this week. To the upside, there is resistance at 304.34 that is also likely to hold, at least until after Wednesday's inauguration of the new president. If either of those 2 levels get broken, to the downside, the next support is at 260.76 and to the upside, the next resistance is at 324.21. Next Friday's weekly close does have some importance because if the stock closes once again below the channel line, the exact opposite of last week's rally could happen to the downside, meaning a $20 drop below the most recent low at 222.28. There is no probability rating this week as the traders are confused (because of the action seen) and not likely to do much to either side. The company reports earning on February 2 and the traders might just wait to make any decisive decisions until that report comes out.