AM generated a 15% drop in price and made new 10-week weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 8.95 will be seen this week. The stock has now dropped 20.8% in price from the 3-year high weekly close seen March, meaning the uptrend is over, especially if the bulls fail to negate the break this week (a green close above 9.19 next Friday). There is pivotal intraweek support at 8.42 that will likely be seen this week but if it holds up, a rally up to 9.69 will likely be seen. There has been no news on the company itself, meaning that this is all market related. The change of trend has now erased any potential upside of consequence, meaning this stock should now be liquidated as soon as an achievable desired price is reached. The $10 demilitarize zone is now going to be resistance and therefore, consideration should be given to liquidating if that price is reached. This is no longer a stock to be traded. Then again, this is a stock that gives a big dividend (about 9%) and for those interested in that, the overall downside objective would be the 7.40 level. You can figure it out yourselves if it is worth keeping.

AU made a new 9-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 15.48 will be seen this week. Nonetheless, the stock is now at the next (and somewhat decent) weekly close support between 14.78 and 15.90 and with Gold looking more positive than negative, the chances of this area holding up and generating a recovery rally are high. A daily close above 16.27 will start giving the bulls some ammunition. Pivotal resistance on that same chart is found at 18.22, which if broken would suggest a rally back up to the $20 demilitarized zone. For the time being though, that is probably the most that can be achieved without some tangible fundamental change in favor of the bulls.

CAT generated a new sell signal while also generating a trend change signal, having broken the most recent low weekly close at 197.82 while at the same time closing 21.1% below the all-time high weekly close. The stock closed near the low of the week and further downside below last week's low at 190.87 is expected to be seen this week. Minor to perhaps decent intraweek support is found at 186.98 and decent as well as pivotal at 179.67. By the same token and with the trend change signal given, a drop all the way down to the 200-week MA, currently at 164.96 is likely to be seen at some point over the next few weeks. Short-term pivotal resistance is found at 201.99, which if broken would suggest the 200-day MA, currently at 207.45 would likely occur. There is a high probability that the stock will fall down to the first of the support levels mentioned. If "trading" the stock is what you are doing, taking profits there and re-shorting the stock above $207 would be the way to go. By the same token, the $165 level will remain a viable downside target that is likely to be reached at some point but the bounce up to $207 is not yet a high probability.

ENG continued to show weakness, having made a new 5-week low. The stock did close near the low of the week and further downside below last week's low at .9149 is expected to be seen this week. Short-term pivotal support is found at .91, which if broken would give the bears the control back. The probabilities do favor the break happening but I don't believe it will. Pivotal intraweek resistance is found at 1.39 and at this time, there is no much chance that level will be broken either, meaning that the probabilities favor the stock trading between .91 and 1.39 for at least the next 3 weeks.

FIX made a new 36-week intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 75.24 will be seen this week. The fall did generate a trend change signal with the stock now having dropped 26.1% from the all-time high weekly close. Intraweek support is found at the $70 demilitarized zone and pivotal at 67.91. If 67.91 is broken, the target will be the 200-week MA, currently at 60.46. Intraweek resistance is found at 78.61. If broken, a rally back up to the 200-day MA, currently at 88.03, could occur. Nonetheless, the 81.44 level is where the trend change signal occurred and it will require a fundamental positive for that level to be broken on a weekly closing basis.

IDCC dropped 6.1% in value last week alone and closed in the lower half of the week's trading range, suggesting further downside below last week's low at 59.13 will be seen this week. The stock generated a failure signal against the bulls on Thursday, having closed below a previous low daily close support of consequence at 61.28, as well as below a daily close breakout point of importance at the same exact price. That failure signal was confirmed on Friday with a close at 60.78. On an intraweek basis, there is no support until 57.08 is reached. Pivotal support is found at 56.13, which if broken would suggest that a drop down to the $47 could occur. Minor but short-term indicative resistance is found at 61.84 and short-term pivotal at 64.50. Probabilities favor the bears.

NEM generated a new 16-week intraweek and weekly closing low but then closed in the middle of the week's trading range, suggesting equal chance of going above last week's high at 66.43 than below last week's low at 61.13. On a chart basis, nothing was accomplished by the bears but given that the bulls failed to follow through on the previous week's positive action, does suggest that the bulls remain on the defensive. One important thing that happened last week was that on Monday the stock got down to the 200-day MA, currently at 64.10, and that line was straddled throughout the week, having closed above the line on 2 of the 5 days last week. The close on Thursday was above the line and the close on Friday below the line, then again none of the closes being decisive on either side. As such, that line will be indicative and likely decisive this week. A rally above 65.05 would favor the bulls while a drop below 61.13 would favor the bears. With Gold leaning toward the upside, it does give the bulls a slight probability in their favor.

PLNHF broke another support (at 1.37) this past week and got down to the next support at 1.26 (was the intraweek low last week). Nonetheless, the stock closed near the low of the week and further downside below that level is expected to be seen this week. If that occurs (likely), it will likely cause the stock to drop down to the $1 level and put the stock in a chart hole that would require positive fundamental news to overcome. The stock has now fallen 85% in value in the last 16 months and yet there have been NO negative fundamental changes occurring. It has been downside momentum in the Cannabis industry (no specific negatives to the company itself). It has been expected that this year this industry will turn around and start an uptrend but when that is to happen, is presently an unknown.

PRTS generated a positive reversal week, having made a new 4-week low and then closing green. This stock was one of very few stocks that closed green this past week. The green weekly close kept the stock in limbo as it remains below the 200-week MA but gave the bulls a bit of new ammunition, having been successful in staying above the 5-week low daily close at 6.95 all week (close at 6.95 on Monday and at 6.98 on Thursday) and then closing at 7.67 on Friday. The chart is supportive to the bulls but does require that the index market not generate a strong down move this coming week (not probable). Pivotal daily close resistance is found at 8.43 and short-term pivotal support at 6.95. Probabilities slightly favor the bulls.

VET has dropped 28.1% in value over the last 2 weeks and did close on Friday near the low of the week, suggesting further downside below last week's low at 18.50 will be seen this week. A new sell signal was generated on Friday, having closed below the 16-week low weekly close at 19.12 (closed at 18.74). This break of support, after two weeks ago breaking the multi-year high weekly close at 23.44, is particularly damaging to the chart, suggesting that a retest of the 200-week MA, currently at 13.80, is now a viable objective to be reached sometime over the next few weeks (or couple of months). Of course, this is somewhat dependent if the break of support is confirmed this coming Friday with another close below 19.12 next Friday. This "same kind" of a break occurred 6 weeks ago and was negated the following week. By the same token, this break has more "juice" to it as Oil is failing and the stock had not generated a failure signal before (as was generated the previous week). As such, this break is more worrisome and tangible. There are 2 intraweek levels to watch this week that will either cement the negative outlook or begin to negate it. To the upside, a rally above 21.00 would take ammunition away from the bears and a break below 17.42 do the exact opposite. Probabilities do favor the bears.

VNET generated an relatively uneventful week even though the index market had an eventful down week. The stock dropped 4.1% in price from the previous week's close but nothing was broken on any chart (intraweek, daily close, or weekly close) and did close out the week slightly in the upper half of the week's trading range, suggesting a higher probability of going above last week's high at 5.95 than below last week's low at 5.23. An intraweek break above 6.08 or below 5.22 would be indicative. Probabilities slightly favor the bulls.