AM generated negative reversal week, having made a new 32-intraweek high but then closing red and near the low of the week, suggesting further downside below last week's low at 10.60 will be seen this week. The red weekly close that means that for now, the potential resumption of the uptrend has stalled. By the same token, the chart is now showing multiple tops (4 to be exact) between 11.50 and 11.71 (high last week was 11.60), meaning that the probabilities are high that area will ultimately be broken. Since November, the stock has been "straddling" the 200-day MA, currently at 10.34, but given the fundamental picture and the multiple highs, that line should now hold up (not get straddled), meaning that 10.34 is the downside objective for this week, and from which a new attempt at breaking above 11.71 will be launched. Pivotal intraweek support is found at 9.57. Upside objective remains the 13,72 area when a breakout occurs. Probabilities favor the bulls for a green close next Friday.

AU generated a very impressive classic reversal on the daily chart, having made a new 4-week low on Friday and then closing above Thursday's high. In addition and in spite of a red close occurring on the weekly chart, the stock closed near the high of the week and further upside above last week's high at 17.99 is expected to be seen this week. Short term pivotal resistance is found at 18.40 that if broken would suggest the gap up at 19.00 will be closed and if that occurs, it will be a signal that this recent down move is over. By the same token and until a confirmed weekly close above the 200-week MA happens, currently at 19.44, the possibility of a recovery of consequence occurring will remain low. Last week's low at 16.32 is now the new pivotal support level. Based on what Gold is doing, the probabilities do favor the bulls and a likely recovery up to the 23.85 level.

CAT generated a negative reversal week, having made a new 7-week high but then turning around to close red and on the low of the week, suggesting further downside below 215.01 will be seen this week. The stock now shows the required/needed retest of the 52-week high at 237.90 that was made in April and that suggests that the chart is "fulfilled" to the upside and that at least a correction of consequence is to occur or a downtrend is to begin. Very, very minor intraweek support is found at 213.55, slightly less minor at 205.50, and minor to perhaps decent at 199.23. Short-term pivotal intraweek support is found at 194.04. Below that, support is found at 186.98 and longer term pivotal at 179.67. Short-term pivotal support is now found at 223.29 that is further strengthened by a potential breakaway gap at 223.62 that should not be closed at this time unless the bulls are able to rally the index market. In fact, the breakaway gap should get supported with a runaway gap at some point this week. In using the daily chart, the 200-day MA is currently at 207.69, that should be seen at some point this week. If another gap down occurs this week and that line is broken, strong selling is likely to be seen and an immediate drop to $199 occur. Probabilities favor the bears.

ENG got up to the decent intraweek resistance at 1.39 but likely due to the weakness in the index market, the bulls were unable to generate a break of that level. Nonetheless, the stock still generated a green weekly close as well as a close slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 1.13 than above last week's high at 1.39. By the same token, that probability will likely depend on what the indexes do and not on what the stock does. There are now multiple tops (4 to be exact) at the 1.38/1.39 level, suggesting a high probability of that level getting broken at some point in the near future. Last week's low at 1.13 is now short-term pivotal support, meaning that this past week' trading range is overall pivotal. Probabilities do favor the bulls slightly but only if the indexes don't sell off sharply.

FIX generated a negative reversal week, having made a new 7-week intraweek high but then closing red and on the low of the week, suggesting further downside below last week's low at 88.25 will be seen this week. Some intraweek support is found at 86.12 and at 83.83.70 and then pivotal at 80.00. Intraweek resistance is found at 90.53 and then at 91.70. A break above 91.70 would negate some of the bearish action seen this past week. The stock gapped down on Friday from 91.33 and if it gaps down again on Monday (below 88.25) and especially if the gap is below the 200-day MA, currently at 87.88 and the 87.13 intraweek low support is broken (all very viable possibilities), a drop down to the $83 level would likely occur. Pivotal longer term support is found at 80.00. Proabilities favor the bears.

IDCC generated negative reversal week, having made a new 17-week high but then closing red and near the low of the week, suggesting further downside below last week's low at 63.85 will be seen this week. Nonetheless, the bulls were able to close on Friday still above the 200-week MA, currently at 64.08, meaning that the bears were not able to yet gain a decided edge. By the same token, the short-term pivotal resistance at 65.85 has now been strengthened as the stock closed at 66.03 the previous week and closed at 64.67 on Friday, meaning that a double high at that area is now in place. In addition, the 200-day MA is currently at 66.57 and with the stock closing on 66.84 and following that up with 3 red daily closes, it does suggest that the stock requires a positive fundamental piece of news in order for any further upside to be seen. There are 2 daily close support levels to watch this week, with the first one being at 64.21 and the second one being at 61.44. A break of the first will likely cause a drop to the second and a close below the second one will damage the chart in favor of the bears and against the bulls. Stop loss should remain at 67.35. Probabilities slightly favor the bears.

NEM generated an impressive key reversal on the daily chart on Friday, having made a new 15-week intraweek low and then closing above Thursdays high. The reversal caused the stock to move up 7% in price on Friday alone and strongly suggests that a bottom to this correction/move down has been found. On the weekly chart, the stock did still generate a red weekly close but the bears were unable to break the now established weekly close support at 65.25 (closed at 66.85) and did close in the upper half of the week's trading range, \suggesting further upside above last week's high at 68.57 will be seen this week. Short-term pivotal resistance is found at 70.16 and longer term pivotal resistance is found at 75.31. Important and likely indicative support is found at 64.95. Probabilities favor the bulls.

PLNHF did nothing different (had another "nothing burger" event) with the exception that the stock did go below the previous week's low but did not get below the recent low at 1.37, meaning that the door is now open for a bottom to be established if the stock can get above 1.69 this week. Probabilities continue to slightly favor the bears.

PRTS generated another negative reversal week (2nd in a row) and did weaken the chart slightly as the stock gave a new buy signal on the daily chart on Wednesday and then proceeded to negate it and give a sell signal on Friday. By the same token, the stock closed on Friday close to a short-term pivotal support at 7.50 (closed at 7.54) that the bears need to break to get the edge back. The action last week proved that the bulls don't yet have the necessary ammunition to take the stock higher (likely because the index market in under strong sell pressure) but did not prove that the bears have totally stopped the bulls. As such, this coming week is important and pivotal. Two daily closes below 7.50 will weaken the chart further and give the edge to the bulls while 2 green daily closes above 7.50 this week will mean the traders will wait for further news.

VET generated a failure signal on the daily closing chart, having closed above pivotal daily close resistance at 23.52 on Tuesday, Wednesday and Thursday but then below that level on Friday. On the weekly closing chart, the bulls failed to close above the weekly close resistance at 23.44 (closed at 23.24 on Friday) and that means that the bulls must generate a green close this Friday to keep the uptrend intact. A red weekly close next Friday would mean the pivotal resistance has been tested successfully, which in turn would likely bring in a strong profit-taking sell off as well as new selling interest. The stock did close near the low of the week, suggesting further downside below last week's low at 22.65 is likely to be seen this week. Pivotal intraweek support is found at 21.94, meaning that the bulls have to keep the stock above that level in order to keep the door open for another green weekly close next Friday. Probabilities still favor the bulls slightly but the action last week has uncovered some fundamental weakness given that the high last week was at 25.41 and that area did not represent any previously established resistance, meaning the stock stopped rallying where it shouldn't have. Then again it does need to be mentioned that the Natural Gas Index did close on Friday at 8.85 and this area between 8.42 and 8.72 does show decent and established weekly close resistance from 2008/2009. As such, NG has to generate another green close this Friday to convincingly break that resistance and it closed in the middle of the trading range for the week, meaning equal chances of going higher than of going lower than last week's trading range. This means that watching what NG does this week, is pivotal for the stock. Using the daily chart, NG, shows indicative support is at 8.11 and indicative resistance at 9.40. Which ever gets broken first will affect the stock positively or negatively. Probabilities do favor the bulls but slightly.

VNET generated a buy signal on the daily closing chart on Wednesday, having made a new 4-week intraweek and daily closing high. Nonetheless and likely due to the index sell off, the bulls were unable to follow through and the stock fell back at the end of the week. No sell signal though, was given on the fall back. The buy signal did have one strong positive and that was that the island formation has now been confirmed and is unlikely to be negated unless outside forces (like the index market) help push the stock back down. The stock did close slightly in the lower half of the week's trading range, meaning that there is a slightly higher probability of going below last week's low at 5.44 than above last week's high at 6.63. Intraweek support is found at 5.04 that should not be broken. There is some support between 5.70 and 5.80 that has a good chance to hold up and if it does, the bulls are likely to come back in strongly. That likely depends on how much weakness is seen in the index market. A rally above last week's high at 6.63 would now be a strong trigger for further upside as there is a double high at that price. A break of that level would give an 8.81 short-term objective. Probabilities slightly favor the bulls.

ZLAB bulls were unable to follow through to the upside in spite of the close near the high of the week the previous week and the bears came back in and made a new 4-week intraweek low but a new 3-year weekly closing low. The stock closed near the low of the week, suggesting further downside below last week's low at 25.83 will be seen this week. The stock now finds itself close to the "next" weekly closing support at 26.21, having closed on Friday at 26.61. Nonetheless, it has become clearly evident that until the Chinese market can get itself moving higher, the bears will continue to have the edge with ZLAB. By the same token and in looking at the SSE (Chinese index market), the index is near a major support level at $1687 (closed at $1754) and that means that it is not likely that the index will fall more than 4% from its present price. A drop of an additional 4% in ZLAB would put the stock down to 25.53 and the 3-year intraweek low is at 24.50, which was made just 5 weeks ago. This does suggest that intraweek low will hold and a rally begin. It is important to note that ZLAB is considered to be one of the stronger companies in China and therefore the one to rally the most once a bottom to the SSE is found. By the same token, the bulls cannot allow the stock to get below 24.50 any more as that would further weaken the chart picture. Pivotal intraweek resistance is found at 38.01. Probabilities slightly favor the bulls this week for a green close on Friday.