AU generated a failure signal against the bears, having closed above a previous and important weekly close support at 14.78 (closed at 14.99) that when broken caused the stock to make a new 28-week intraweek low at 13.47. The stock did close at the high of the week, suggesting further upside above 15.01 will be seen this week. Pivotal intraweek resistance is found at 15.28, which if broken would offer open air to 17.28. Intraweek support will now be found at 14.11. The positive short-term outlook for Gold does suggest that the stock is now on a recovery rally phase, which could ultimately carry it up to the 19.48/19.79 level where both the 200-day and 200-week MA are located. Probabilities favor the bulls.

BGNE generated a positive reversal week, having made a new 3-week low and then making a new 17-week high. This all occurred when a much better than expected earnings report came out this past week. The stock closed near the high of the week, suggesting further upside above last week's high at 199.16 will be seen this week. In looking at the weekly intraweek chart, there is no resistance until 210.35 level is reached. Further resistance is found at the 200-week MA, currently at 214.38, and then at 220.10. With the overall market still in a downtrend, it is highly unlikely that the bulls will be able to close above the 200-week MA, meaning that the $214 level is going to be difficult resistance to break unless the indexes continue higher. On the other side of the coin and looking at the monthly chart and to the downside, the 31-month intraweek low at 118.18 has not yet been tested successfully and given that the stock had dropped 73% over a period of 13 months, a retest of the level is required before indicative resistance levels are broken. Last month's low was at 161.08, meaning that a drop below that level is likely to be seen at some point over the next 2 months. A drop below that level is the least that needs to be seen. The monthly chart suggests that the $210/$214 level is going to be a brick wall at this time. The same chart suggests that a drop down to $136 will also be seen before anything else can happen. This is a highly volatile stock, meaning that both the high and the low mentioned above could be seen during the next 2 months. Probabilities do favor the bulls this week though. Any failure to reach the $210 level this week is likely to be indicative of some inherent weakness.

CAT reported earnings this week and they were worse than expected. As such, the bulls were unable to follow through to the upside (as the previous week's close on the high of the week suggested would happen) and an inside week but with a red close occurred. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 181.12 is expected to be seen this week. Intraweek support is found at 179.67 and then nothing until the 167.08 low seen the 2nd week of July. The 200-week MA is currently at 166.22 and is a viable target. The stock gapped down after the earnings report from 193.40 to 189.47 and with the stock having closed on Friday on the high of the day, suggesting that Monday the stock will go above Friday's high at 186.10, it does suggest that the bulls will attempt to close the gap before the inflation report on Wednesday. Nonetheless and if they fail, the daily chart suggests that the 176.02 level would be the downside target for this week. Closure of the gap though, would change the chart slightly.

ENG generated a totally uneventful inside week and closed in the middle of the trading range, meaning that no clue was given as to what will happen this week. The 200-week MA is currently at 1.61 and there is midterm pivotal weekly close resistance at 1.50, both of which need to be broken for the bulls to gain back control. Daily close support is found at 1.39 and again at 1.30. A break of the latter would give the bears back the edge. The trading range this past week was 1.35-1.39, based on the daily closes.The company reports earnings on Thursday, suggesting that this week something of consequence will happen. Probabilities favor the bulls as the stock seems ready and poised for a breakout.

LI generated and uneventful week though the bulls were able to prevent further downside in spite of the fact that further downside was expected to be seen. In addition, the stock did go above the previous week's high (unexpected) and closed green. Nonetheless, 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 32.48 than above last week's high at 35.98. The action seen suggests the traders are going to wait for the earnings report that comes out Monday morning Aug 15th (a week from tomorrow), meaning that this week is likely to offer nothing in the way of a clear direction. By the same token, the action suggests that it is the bears that need negative news to generate further downside. If they don't get it, the stock remains in an uptrend. Intraweek resistance is at 37.46 and intraweek support is at 31.67.

NEM generated a mostly uneventful week though a new 28-month intraweek and weekly close occurred. Nonetheless, both were by very minor amounts (intraweek low 43.90 vs 44.00 and weekly closing low 44.72 vs 45.28), meaning that the negative action seen the previous week (due to the negative earnings report) did not bring in any new selling interest. The stock did close in the lower half of the week's trading range, suggesting a high probability of going below last week's low at 43.90 than above last week's high at 46.65. Nonetheless and given that Gold did generate a positive week and is likely to go higher, in addition to the fact that the follow through to the downside was minor, it does suggest that there is a good possibility that the stock will not do the what the chart suggests it will do. The stock did close on the high of the day on Friday and if follow through to the upside is seen and Thursday's high at 45.88 is broken, the bulls will gain a slight edge for the week. If follow through to the downside does occur, there is some minor support at 43.53 that should hold up due to the situation with Gold.

PLNHF generated an uneventful inside week but did generate another green weekly close, as well as a close near the high of the week, suggesting further upside above last week's high at 2.03 will be seen this week. On a weekly closing basis, the 2.00-2.07 level is pivotal for the midterm. A confirmed weekly close above 2.07 would suggest a rally up to the $2.60-$2.70 level would ensue within 4-6 weeks. The stock has now built a bullish flag formation with the flagpole being the rally from 1.13 to 2.12 and the flag down to last week's low at 1.70. A breakout from the flag will offer a 2.70 objective. This flag also means that the 1.70 level is now pivotal support. The time frame involved in reaching the objective, once the breakout occurs, is 10 days. Probabilities favor the bulls.

QQQ continued the recovery rally with another green weekly close and closed in the upper half of the week's trading range, suggesting further upside above last week high at 324.72 will be seen this week. Nonetheless, the bulls failed to generate a negatiion of the downtrend signal given 15 weeks ago when the stock closed below 323.19, which is a drop of 20% from the all-time high weekly close (closed at 321.75 on Friday), meaning that the stock is still in a downtrend. There is no intraweek resistance above until the 338.19 is reached. Nonetheless and with no possibly positive catalytic news due out this week (or for the next 3 weeks), it is unlikely the bulls will be able to take the stock much higher than perhaps a few points above Friday's high. There is short-term pivotal support at 311.84, which if broken would also suggest that the 200-day MA, currently at 313.44, would break as well. The 200-day MA is the only thing that is currently giving the bulls any chart ammunition and therefore extremely pivotal. It is unlikely that any down move of consequence can occur until after the CPI report comes out on Wednesday, suggesting that for Monday and Tuesday a potential low of 313.44 could be seen. To the upside, there is intraweek resistance at 330.29, which is also unlikely to be broken unless the CPI report comes in better than expected. Proabilities favor the bears for a red weekly close next Friday.

PRTS reported earnings this past week and off of them, the stock made a new 24-week intraweek and weekly closing high. Nonetheless, the bulls failed to break above the 200-day MA, currently at 9,38, having made a 9.24 high and then falling back to 7.92. The stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher chance of going below last week's low at 7.67 than above last week's high at 9.24. Nonetheless, the stock closed on the high of the day on Friday, suggesting that on Monday the stock will go above Friday's high at 8.45 and if that happens, Friday's low at 7.92 will become pivotal support. It is not unusual for a stock to fail to break the important 200-day MA the first time it gets up to the line, especially given that the stock had not even reached the line since November of last year. The chart remains bullish given that a new 24-week high was made on all charts and that suggests that the MA will likely be broken soon. The stock has now established itself above the 200-week MA, currently at 7.99, having closed above that line the past 3 weeks. The action seen suggests the stock will now trade between the $8 and $10 level for the next 4-6 weeks at least. Any confirmed weekly close above the $10 demilitarized zone (9.70-10.30) will open the door for a rally up to the $14 level and perhaps even as high as $17, all within the next 9 months. Probabilities favor the bulls.

SHOP made a new 13-week intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 42.59 will be seen this week. This breakout is particularly impressive given that the company reported lower than expected earnings 9 days ago and after the initial drop down due to the report, the stock has now rallied 28.3% from the low made that day. This is strongly suggestive that the stock now has a very solid bottom and that the bears will not be looking to sell until the stock reaches and fails to break the resistance levels above. There is no resistance above until the $49-$51 level is reached, meaning that at least another 20% rally is expected to be seen from Friday's close. Then again, the resistance at $50 is relatively minor as the stock only shows 1 previous low and I previous high in that area. In addition, the stock was trading at $176 only 9 months ago. The 200-week MA is currently at 80.86 and reaching that line is going to be a viable objective to be reached within the next 6-9 months. The $40 demilitarized zone (based on a daily close) has now become decent and indicative support. Consideration can be given to adding positions around the $40 level. Probabilities favor the bulls.

VNET continues to trade sideways but with the bears having enjoyed a very minor edge the past 3 weeks. The stock made a new 11-week low at 4.47 last week and came within $.02 cents of the pivotal 20-week low at 4.45. Nonetheless, the stock closed near the high of the week, suggesting further upside above last week's high at 5.30 will be seen. Short-term pivotal resistance is found at 5.60, which if broken would take away the edge from the bears (put both bears and bulls on an even keel) as the traders would then await the results of the earnings report that is due out August 23rd. Overall though, the island formation that was built 5 months ago continues to suggest that the future favors the bulls. The level of intraweek pivotal resistance is at 7.94. If (or when) that level gets broken, the bulls will gain short-term control. On the opposite side, the 4.45 level is important intraweek support. Probabilities continue to slightly favor the bulls.

ZLAB had an important and positive week for the bulls, having generated a positive reversal week (making a new 3-week low but then making a new 14-week intraweek and weekly closing high) and closing on the high of the week, suggesting further upside above last week's high at 45.40 will be seen this week. There is total open air above until the 50.05 level is reached that is the 5-month high and it is further strengthened by the 200-day MA, which is currently at 51.51. The company reports earnings on Tuesday afternoon. It is important to note that the earnings are expected to come in at -$.94 cents. The company has never yet reported positive earnings as it is a bio-pharma stock that is in the process of establishing itself with new medicine. The best earnings report seen since its inception was in March 2020 when it reported earnings of -$.68 cents and the last earnings report in May came in at -$2.26, meaning that the estimates seem to show that the company is starting to improve. With the stock once trading as high as 193.54 and now 77% lower, the probabilities of the earnings report being positive for the stock are very high. If the stock goes above last week's high on Monday, last week's low at 37.20 will become the new intraweek support level. Any daily close above the 200-day MA will open the door for a rally to the $60 level, which is a pivotal level for the longer term. Probabilities favor the bulls.