AU generated another new 7-month intraweek high and weekly closing high and closed near the high of the week, suggesting further upside above last week high at 18.85 will be seen this week. There is a downside gap from May at 19.00, which likely will be closed this week and if closed, it will change the downtrend that started in March back into a sideways trend. Nonetheless, the 200-day MA is currently at 20.00 and until that line is convincingly broken, the bulls will not get anything more than a short-term edge. If all of the above happens, the 14.57-14.76 will become the new and decent intraweek and weekly close support area. Probabilities do favor the stock trading between $15 and $20 for the rest of the year, meaning that if the $20 level is reached, consideration should be given to liquidating the positions and re-buying around the $15 level.

BABA generated a new 11-week intraweek and weekly closing high and closed near the high of the way, suggesting further upside above last week's high at 91.85 will be seen this week. A new buy signal on the weekly closing chart was given when the stock closed above the previous high weekly close for the past 9 weeks at 81.24 (closed at 90.06) and a failure signal against the bears was given when the stock closed above the previous 6-year low weekly close at 86.79. There is no previous weekly close resistance above until the 97.07 level is reached. On an intraweek basis, there is no resistance until 103.52. Nonetheless, on a daily closing basis, there is resistance at the 200-day MA, currently at 93.12. That line has not been broken to the upside for 21 months and as such, a bullish statement needs to be made in order to break the line. Probabilities do favor the stock getting up to 94.84 this week but then falling back. Consideration should be given to liquidating positions near that price.

CAT rally has stalled as during the past 4 weeks, the intraweek highs have been 238.40, 239.85, 239.63 and last week at 238.47. The stock did close in the upper half of the week's trading range, suggesting further upside above that level is expected to be seen this week. Nonetheless, such a scenario has occurred twice in the last 4 weeks and on one of those occasions, the bears failed to go above the previous week's high and on the other occasion, it only did it by $1.45. It seems evident that the bulls need a new positive fundamental change for the uptrend to continue and none is likely to occur this week. Last but not least, the stock is showing 10 weeks in a row of higher lows than the previous week, meaning that the July low is not yet showing any kind of a retest of it. It also means that the bulls have not built any support level close by where new buying can occur and where some limitation of risk can be obtained. Presently and on an intraweek basis, there is some old support from April 2021 at 223.20, but it is considered minor in nature. A drop down to that level is likely to occur as soon as the bulls realize that further upside is unlikely to be seen. The next level of intraweek support is at 213.55 (minor as well) and then "a bit" stronger at 205.50. Evidently, resistance is presently found at the $240 demilitarized zone. According to JP Morgan, the stock should be around the $220 level, suggesting the stock is overpriced at this time.

ENG negated the new 10-month intraweek low and a new 24-month weekly closing low that was made last week, having closed this past week above the previous 2-year low weekly close at .865. In fact, it can be said that a potential double bottom now exists as the 85.5 low seen the previous week can be matched with the .865 low, if and when the double bottom is confirmed at some point in the near future. Confirmation at this time requires a weekly close above 1.06 to be valid. The bulls were not able to generate any other signal at this time as a daily close above .99 is required to generate a round of short covering. Daily close support at this time is found at .88 and the most likely scenario for this week is for the stock to trade between those two levels (on a daily closing basis).

LI bulls accomplished a lot this past week, having confirmed the buy signal given the previous week on the weekly closing chart, as well as generating a new failure signal against the bulls, having closed above the 17-month low weekly close at 20.92 (closed at 22.78), which when broken caused a new all-time low to be made. The stock has given an official signal that the bear trend is over, having appreciated 46.3% from the low weekly close. On an intraweek basis on the weekly chart, there is no resistance above until the 27.10 level is reached. Nonetheless, the 200-day MA is currently at 26.27 and it is not likely that line will be broken, on a daily closing basis, at this time. Intraweek support is presently found at 20.50. The stock is showing a breakaway/runaway gap formation that is supportive for the bulls. Closure of the runaway gap with a drop down to 18.84 would change the short-term chart in favor of the bears.

NEM generated a new 19-week intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 49.65 will be seen this week. There is no intraweek resistance above given that after the earnings report in July, the stock fell straight down. The stock did break out of a bullish flag formation that offers an upside target of 53.52 for this week. The 200-week MA is currently at 53.62, meaning that a rally up to that level is highly viable. Nonetheless and with no actual positive fundamental changes to the company, it is highly likely that after that line is reached, that a drop back down to $45-$46 level will be seen. As such, any rally above the $53 level should be reason to consider liquidation of the positions. Any daily close below 46.41 would now be considered a negative as the flag formation will be negated if that occurs.

PLNHF generated a new 2-month intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 1.44 will be seen this week. There was an established intraweek double high at 1.40 that got broken, which opens the door for a rally all the way up to the 1.70-1.74 level. On a daily closing basis, the 1.38 level is now support. The 200-day MA is currently at 1.66 and that is a viable target for this week or next.

SHOP generated a new 17-week intraweek high and a new 32-week weekly closing high and closed in the upper half of the week's trading range, suggesting further upside above last week's high at 45.05 will be seen this week. There is still intraweek resistance at 45.43 and at 48.40 that would need to be broken to make this a true breakout. The stock closed above the 200-day MA, currently at 41.30 (closed at 43.06) and if that gets confirmed and established, it will mean higher prices. Nonetheless, the bulls have one big problem and that is the fact that the stock has gone from a bear trend to a bull trend without a change of fundamentals and the original breakdown area at 30.11 has not yet been tested in a convincing way (minor retest at 36.59). The recent rally is probably more about the Holiday shopping that has been seen recently and that has broken online-shopping records than it is about the fundamental health of the company, meaning that this rally is not likely to do everything that is required to actually make the stock get into a bull trend. I did put out a sell mention a few weeks ago to sell the stock around the $45 level with a stop loss at 48.90 (shorted at 44.97) but it is likely the stock will go a bit higher this week (probably to around 45.43) where consideration can be given to shorting the stock (if not done on Friday). Any daily close below 40.02 would be a signal that the rally is likely over.

QQQ generated a new 11-week intraweek and weekly close and closed near the high of the week, suggesting further upside above last week's high at 295.75 will be seen this week. The stock did generate a positive reversal week, having gone below the previous week's low and then going above the previous week's high. By doing that, it can be said that the breakout above the 200-week MA, currently at 277.74, will receive a successful retest of that line using last weeks' low at 279.17, if and when the stock does go above last week's high. There is no intraweek resistance above until 296.75 (minor) and then at 303.50 (minor to perhaps decent) are reached, meaning that the bulls do have a very positive short-term scenario in their favor. The 200-day MA is currently at 305.33 and that can be a magnet. Nonetheless, the last time the bulls attempted to reach the line they failed by $7, meaning that a rally up to the 296.75 level seems likely to occur but the bulls will need something tangibly positive to get above the $298 level. A break below 279.17 would give short-term control back to the bears. The stock closed on Friday at 292.55.

VET generated another red weekly close (4th in a row) but for the past 2 weeks the bears have failed to make new intraweek lows below the low made 4 weeks ago at 18.35 (the low the previous week was also 18.35 and last week it was 18.42). This means that the bears have "lost a step" in their quest for lower prices. The stock closed very slightly in the lower half of the week's trading range (by just $.09), suggesting about an even chance of going below last week's low at 18.43 than going above last week's high at 20.25. With OPEC deciding to cut production by 1.5 million barrels per day and giving Oil a new fundamental support base, the probabilities do slightly favor the bulls as the stock is oversold and showing a clear support level. Upside objective (if the bulls win) is the 200-day MA, currently at 21.70. A break of the intraweek support at 18.38 would likely cause the stock to fall down to the next support level at 18.08.

VNET did follow through to the downside (as expected) but did generate a positive reversal week, having closed green and slightly in the upper half of the week's trading range, suggesting a slightly higher probability of going above last week's high at 5.22 than below last week's low at 4.62. Nonetheless, the stock remains in a trading limbo as the traders await the outcome of the proposed merger at $8 a share. For now, the chart does not favor either side as it seems to be in a trading range between 4.50 and 6.00. Midterm pivotal resistance is at 6.43, which if broken would make the $8 level the objective.

ZLAB did not see any follow through to the downside (contrary to what was expected) and did generate a small spike up type rally with a green weekly close and in the upper half of the week's trading range, suggesting further upside above last week's high at 39.33 will be seen this week. With the Chinese stock market likely to go higher, probabilities favor a small breakout this week. What likely held this stock down this past week (contrary to BABA and LI) is that the 200-day MA, currently at 38.04, kept the bulls "in check". That line has held up for 14-months with one minor exception seen in September. Nonetheless, the stock has now been tested the line on 3 occasions, meaning that if broken now, it would likely be decisive. For that to happen and be confirmed, the stock needs to get above 40.30 and close above 38.71 for two straight days. Pivotal intraweek support is now found at 30.37. Probabilities favor the bulls.