AU made a new 38-month weekly closing low and a new 28-month intraweek low and closed near the low of the week, suggesting further downside below last week's low at 13.47 is expected to be seen. This action has damaged the chart given that all the gains for the past 3+ years have been totally erased. It has damaged the chart to the point that the uptrend is now officially over and only technical trading bounces are likely to occur. With Gold being at an important support level, it does suggest that the probabilities favor the bulls this week for a green weekly close next Friday and some form of a recovery rally occurring. Nonetheless and without some very positive fundamental changes (such as inflation continuing to move higher but the Fed not fighting it with strength), the $20 level has now become a brick wall. Even then, a rally back up to the $20 level (if it is to happen) would likely take all of the next 3 months to achieve, meaning that consideration needs to be given to whether keeping the stock for that kind of a recovery rally would give enough profits (or lessening of losses) to overcome having the money work elsewhere. There is intraweek support at 12.66 that is considered pivotal to the potential for a recovery. If that level is broken, the chart picture becomes total gloom. It is important to note that the stock has now seen 6 red weekly closes in a row and that has not occurred since 2014 when there was "no inflation", strongly suggesting that the worse is probably over given that inflation is a plus for Gold and inflation is not likely to come down for months (if not years). In addition, it is probable that the Dollar has topped out as well and that has been a negative to Gold. Pivotal resistance is at 15.33. If that level is broken, further upside is likely to be seen. Probabilities favor the bulls this week.

CAT generated another new 18-month intraweek and weekly closing low but on this occasion the stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher possibility of going below last week's low at 167.08 than above last week's high at 179.77. This action does suggest that the stock is either very close to the bottom or that a bottom has been found, with the answer coming based on whether last week's high or low are broken. With the 200-week MA being currently at 165.72, the potential bottom, if the stock heads lower this week, is clearly defined. On the other side of the coin though, a rally above last week's high would not define the end of the downside given that the pivotal resistance is now at 182.50. It is interesting to note that the stock itself has shown more weakness than the stock indexes themselves and that suggests that even if a rally in the indexes occur, the stock might not follow them. Either way though, the risk/reward ratio is not positive enough to try to squeeze the additional downside that could be seen, meaning that consideration to taking profits should be given, if and when any strength is seen.

ENG made a new 4-week intraweek high and closed on the high of the week, suggesting further upside above last week's high at 120 will be seen this week. The stock is showing a bullish flag formation with the flagpole being the 9-day rally from .94 to 1.20 and the flag being the action seen the past 4 days down to 1.10. A break of the top of the flag will offer a rally up to 1.36 (over the next 2 weeks). On a weekly closing basis, there is pivotal resistance at 1.22, which if broken would suggest a retest of the 200-week MA, currently at 1.61, would occur over the next 3 months. Using the daily closing chart, daily close resistance is not found until the 1.36 level is reached. A break of that level would suggest a rally up to the 200-day MA, currently at 1.48, will occur. The chart is now definitely leaning to the bull side but not in a big way, meaning the stock is likely to trade between 1.10 and 1.60 for the next 3 months. After that, things could get very interesting.

IDCC generated an uneventful inside week. The stock closed red on the weekly chart but did close in the upper half of the week's trading range, suggesting last week's high at 62.93 will be broken this week. Pivotal intraweek resistance is found at 63.53 and pivotal support at 59.13. The overall chart picture to the downside has changed with a drop down to the 200-week MA at 47.91 no longer being a probability and perhaps not even a possibility. Overall, the chart looks like nothing of consequence is to occur, meaning that taking profits and investing them somewhere else is what makes sense. Staying with the stock is not presently offering as much as can be found elsewhere. The 6% profit that is currently being experienced should be enough to consider liquidating the positions on Monday if Friday's closing price can be achieved.

LI, using the weekly closing chart, generated a pause week, having closed red but not breaking anything. Nonetheless, the stock closed hear the high of the week, suggesting further upside above last week's high at 38.85 will be seen this week and if that happens, last week's low at 36.20 will become the needed/required retest of the intraweek breakout at the $36-$37 level. For the 7 previous weeks, the previous week's low had not been broken. In other to continue higher, a new support level needed to be built and the 36.20 level will become that if last week's highs are broken. On an intraweek basis, there is resistance at 40.70 and at 41.49 and the latter is the all-time high which if broken would offer an objective of at least the $50 level. Pivotal support is now found at 36.20. Probabilities favor the bulls.

NEM made a new 8-month intraweek and weekly closing low and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 53.92 will be seen this week. Nonetheless, there is copious intraweek support between 53.02 and 53.54 that goes all the way back to September of last year and that stood up for a total of 3 months as well as further support at 52.33 that goes back 2 years and with a total of 5 successful retest of that area, meaning that it is dependable support. This is especially true given that Gold also has that kind of support around the $1700 area. Nonetheless and like with Gold as well as with the other held stock (AU), there has been a lot of damage done to the chart that puts a limit to the upside unless the fundamental picture changes. As of right now, the $60 level is resistance (likely to be reached) and with a max of $65 (with a possibility of being reached). This means that this stock now has a cap on what can be accomplish and that reduces the interest in trading it. Getting back to the $60 area is likely to occur within the next 2-4 weeks but thereafter, the stock is likely to trade back down to retest support once more. This trading range seems to be quite dependable.

PLNHF generated a second green weekly close and that has not occurred for the past 4 months and is a sign that the probabilities of a bottom having been made are now decent. The stock closed near the high of the week and further upside above last week's high at 1.35 is expected to be seen this week. There is some intraweek resistance at 1.36 but if broken, there is mostly open air to the 1.69-1.80 level. On the daily closing chart, the stock did generate a buy signal when it closed above 1.23 and on that chart, there is no daily close resistance until 1.46 is reached. Probabilities do favor the stock trading between 1.22 and 1.50 for the next couple of weeks.

PRTS followed through to the upside with another green weekly close that does strengthen the already established intraweek support between 6.76/6.81. The stock closed slightly in the upper half of the week's trading range, suggesting a slightly higher probability of going above last week's high at 8.11 than going below last week's low at 7.23. The stock has continued to build a solid support area from which to launch further upside with a clear target of $10, to be reached within 10 weeks of the breakout (a rally above 8.54). Probabilities favor the bulls this week but a close above the 200-week MA, currently at 7.89, is required to get the "ball rolling forward".

VNET made a new 8-week intraweek low but the bulls were able to rally the stock enough to close slightly in the upper half of the week's trading range, suggesting a slightly higher chance of going above last week's high at 5.56 than below last week's low at 4.61. If the bulls are able to do that, a second successful retest of the island gap formation will have occurred and that should give new ammunition to the bulls. The action the past 3 weeks has been frustrating to the bulls given that the stock was ready for a breakout out 3 weeks ago and instead a dangerous fall back occurred that put the bullish formation at risk of being destroyed last week. The bears failed and that gives the bulls one more chance to make a bullish statement, which does have the probabilities in favor of it happening due to the multiple highs around the $7 level. A rally above last week's highs is needed this week to bring that bullish sentiment back. Probabilities continue to favor the bulls.

ZLAB generated a positive reversal week, having gone below the previous week's low and then closing green and near the high of the week, suggesting further upside above last week's high at 39.74 will be seen this week. If that occurs, last week's low at 35.06 will become the required/needed retest of the multi-year low at 22.50. If the previous week's high at 42.74 is broken, a new buy signal will be given and will offer a short-term upside objective of reaching the $50 level. For the first time in the last 10 months, the chart is looking positive (in favor of the bulls). With Chinese stocks likely to be getting a lot of the buying interest (at this time), as well as the recent bullish action (not dropping down to the $26 level as the charts suggested it could), it does suggest that the stock is ready to move up to the $50 (and quite possibly $60) level before any new selling interest comes in.