AAPL finds itself at a pivot point, having rallied 7.2% over the past 3 weeks but reaching a level of weekly close resistance between 131.96 and 132.69 where the bears are likely to get involved. The stock did close on Friday at 130.46 and did close in the upper half of the week's trading range, suggesting further upside above last week's high at 132.59 will be seen this week. In addition to the weekly close resistance found in this area, there is a 2-point downtrend line that connects at 132.80 that will also act as decent resistance. It is evident that this coming week is strongly pivotal for the stock. Sell recommendations have been given by several rating agencies and the stock is now exactly in the place where the charts suggest is "the sell area". There is no established pivotal resistance above until 137.07 but there is some minor resistance at 134.07 that if broken might give the bulls the short-term edge. By the same token, a drop below 128.77 will do the opposite in favor of the bears. Probabilities favor the bears.

AU had a big negative week, having made a new 14-month intraweek and weekly closing low and closing on the low of the week, suggesting further downside below last week's low at 18.88 will be seen this week. There was no new news, meaning this was all chart oriented and likely because of the strong drop in Gold. As it is, this stock has been among the worst performers in the Gold mining industry (compared to others). There is quite a bit of support at 18.04 from two lows made on September and November 2019. Unfortunately, the 200-week MA, currently at 16.89, is likely to become a magnet if Gold continues to fall. The chart has now changed inasmuch as the possibility of a rally up to the $35 level has now likely disappeared. A few weeks ago, one company lowered the rating on AU to market perform and lowered the upside target from $30 to $27. In looking at the chart, the $24 area now becomes the upside target based on this break. The stock is showing a gap between 21.39 and 21.43 that is likely to be closed given that this stock rarely leaves a gap open. As such and at these levels, there is more upside potential than downside. Probabilities favor the bears this week.

BTZI continued the recent bear trend down with a new 4-month intraweek and weekly closing low. The stock closed near the low of the week and further downside below last week's low at .0575 is expected to be seen this week. The stock likely has the .0545 level as its downside objective as that was the level that when broken, caused the stock to rally up to the .37 level. Nonetheless, the stock is now close enough to that level that any green weekly close from here on in, would likely signal that the breakout level has been tested successfully. It is important to note, especially with the big investment the company made into bitcoin miners, that Bitcoin seems to have stopped its recent downtrend and is presently trading sideways. A rally above 41616 or a drop below 28991 would generate additional movement in whichever direction is broken. Bitcoin closed on Friday at 35585. Either way, the stock is now nearing a level at .0545 that should not be broken and given that there is no resistance above until the .08-.088 level is reached, the bulls are now starting to have the risk/reward ratio going to their side. Any intraweek rally above .088 would suggest a rally up to .105 would then likely ensue. The probabilities still slightly favor the bears this week but this correction is probably nearing the end.

CNX gave up all of its recent gains and made a new 5-week intraweek low and a new 3-month weekly closing low, which in turn generated a new sell signal on the weekly closing chart. It closed on the low of the week, suggesting further downside below last week's low at 13.02 will be seen this week. The drop was all due to the Fed announcement as the stock is a gas producer and the energy market as a whole was affected by the announcement. Nonetheless, it does need to be mentioned that Oil recovered on Friday to make a new multi-month weekly closing high and the Gas index only dropped a small amount, suggesting that perhaps the drop in the stock was overdone. Pivotal intraweek support is found at 12.87 that if broken, would suggest a drop to the 12.00 level. In addition, the 200-week MA is currently at 11.67, and that line would become a magnet if 12.87 is broken. Resistance is once again found at the 14.03 level. The probabilities favor the bears but there are a lot of unanswered questions, whose answers could turn the stock around "on a dime".

CRON made a new 4-week low and closed on the low of the week, suggesting further downside below last week's low at 8.32 will be seen this week. The bulls were unable to establish themselves above the 200-week MA, currently at 9.01, and are likely looking to find out where support is now located. The 200-day MA, currently at 8.21, is likely to give the traders some good clues as to whether the stock is truly starting to recover or simply trading sideways. The 200-day MA line is also important from the point of view that presently there is a bullish flag formation with the flagpole being the move from 6.99 to 9.42 and the flag being the drop down to 8.15. The objective of the flag (if it holds up and then breaks to the upside) is presently at 10.57 (based on an 8.15 flag bottom). There is quite a bit of support around the 8.00 level so the probabilities still favor the bulls. A break below 7.96 would slightly weaken chart.

ENG generated a red close week for the first time in the last 5 weeks. The stock did go below the previous week's low, opening the door for it turning out to be the needed/required retest of the 20-week low at 2.01. The stock closed in the middle of the weeks' trading range, suggesting an equal chance of going above last week's high at 2.85 as going below last week's low at 2.53. If the latter occurs, there is further support at 2.35 and if the former occurs, there is short-term pivotal resistance at 3.20. The 200-day MA is currently at 3.19 and if broken, it would be a statement. Otherwise, more sideways trading is expected to occur.

MRGE mimicked the previous week and generated another uneventful inside week and a 2nd red close in a row. The stock closed in the lower half of the weeks trading range, suggesting further downside below last week's low at .0197 is likely to be seen this week. If that does happen and the stock then goes above this week's high next week, a successful retest of the 9-month low at .142 will have occurred. Such an event will bring in some new buying interest. There is clear intraweek support at .19 that is likely to be the downside objective this week. Pivotal resistance remains at .33. If broken and confirmed with a close above that level, the 200-day MA will have been broken to the upside and that should generate new buying interest. Nonetheless, this is a stock in which the traders are awaiting positive fundamental news to get involved with and until that happens, little other than "trading the small trading range" is likely to occur.

NEM had a strong down week like Gold and all gold stocks did. The stock generated a failure signal to the new all-time highs, strongly suggesting that a resumption of the uptrend is not in the cards for now. Nonetheless, this stock has outperformed Gold in the past and likely to continue doing that in the near future. The stock closed on the low of the week and further downside below last week's low at 62.54 is expected to be seen. The next pivotal support level is found at 60.84 that if broken would likely mean that a drop all the way down to 56.50-57.50 would occur. Intraweek resistance is now found at 65.78, at 69.30 and at 72.22. The monthly chart now suggests that the stock is likely to be in a $57 to $70 trading range for the next 3-6 months. The 200-day MA is currently at 63.05 and that is what the traders will be keying on this week. If the bulls are able to establish themselves above that line (two closes in a row above the line), the stock will likely first rally up to one of the levels mentioned above. If that does not happen, the probabilities are high that the $60 level will be seen. Probabilities favor the bears but the situation is volatile.

PEP generated a key negative reversal week, having made a new all-time high at 149.27 (above the previous one at 148.85) but then closing red and below the previous week's low. In fact, below the low of the previous 3 weeks. The stock closed on the low of the week, suggesting further downside below last week's low at 145.23 is expected to be seen this week. A strong sell signal was given on the daily closing chart and the double top on the weekly closing chart at 148.30 was strengthened. There is some minor intraweek support at 144.08 and a big strong and likely pivotal again at 143.58. In looking at the weekly chart, the pivotal support there is at 141.73, which if broken would open the door for the stock to drop all the way down to the 135.15 level. The 147.99 level is now decent resistance. Probabilities favor the bears.

PGEN generated a new 7-month weekly closing low and closed within $.15 cents of a previous weekly closing high at 6.20 that when broken, generated the rally up to the 11.10. Even though a new multi-month weekly closing low was accomplished by the bears, on an intraweek basis the stock still stayed above the low at 5.80, meaning that no new signal of consequence was generated. The stock closed near the low of the week and further downside below last week's low at 6.16 is expected to be seen this week. The $6 area has been an important and pivotal point for the past 22 months, meaning that what happens here will be indicative. There is pivotal daily close support at 6.24 and it is interesting to note that the stock closed on Thursday at 6.36 and on Friday at 6.35 and with most of the market going down sharply on "both" days, the fact the bears were not able to make a negative statement for 2 days in a row, suggests there is dependable buying interest here that will need further help from outside sources to break. Any green close before closing below 6.24 would be seen as a positive. Pivotal resistance on the daily closing chart is found at 6.98. Probabilities slightly favor the bulls.

SNDL generated a negative week, as well as a close below the .97 level, which was considered pivotal resistance, suggesting the recent strength that has been shown of late has disappeared. The stock closed on the low of the week, suggesting further downside below last week's low at .91 will be seen this week. Daily close support of consequence is found between .808 and .834. Nonetheless, on an intraweek basis, the 200-day MA is currently at .7045 and it is likely to be hit at some point this week or next. Short-term pivotal resistance is found at .9745, which if broken would likely take some short term ammunition away from the bears. Probabilities favor the bears this week.

SRUTF made a new 4-week intraweek and weekly closing low and closed near the low of the week, suggesting further downside below last week's low at .0552 will be seen this week. On a positive note, the breakout level at .0585 remains unbroken on the daily and weekly closing chart, meaning that this move down is likely to simply be a needed/required retest of the breakout level. Intraweek resistance will now be found at .067, that if broken would suggest the downside is over. Probabilities slightly favor the bulls.

STWD generated a failure signal, having closed on Friday below the previous all-time weekly closing high at 26.01. The stock closed on the low of the week, suggesting further downside below last week's low at 25.09 is expected to be seen. The stop loss given at 25.35 was triggered on Friday, suggesting everyone should be out of the stock at this time. Nonetheless, the stock managed to rally enough on Friday to close in the middle of the day's trading range and if it goes above Friday's high at 25.55, I will likely stay with the stock a bit longer. A rally above 26.01 would suggests this drop was a 1-week wonder. Nonetheless, the probabilities actually favor the bears due to the overall weakness seen in the market. As such, I will likely liquidate the positions on Monday.

ZLAB once again generated a red weekly close (the 3rd in a row) and closed near the low of the week, suggesting further downside below last week's low at 154.95 will be seen this week. Intraweek support of some consequence is found at 154.17 that should not be broken unless the uptrend is over. On a weekly closing basis, there is pivotal support at 152.35 that if broken, would generate an indicative sell signal. As of this moment, this move down has not done "any" damage to the chart, meaning that the stock remains a buy. Certainly, the news this past week affects U.S. companies a lot more than Chinese companies, meaning this drop is more of a buying opportunity than not. Some minor intraweek resistance is at 163.72 that if broken would likely mean the worst of this correction is over. Probabilities favor the bulls this week for a green close next Friday.