AU generated a negative reversal week, having gone above the previous week's high and then closing below the previous week's low and on the low of the week, suggesting further downside below last week's low at 19.00 will be seen this week. This move down and close on the low of the week was especially "head scratching" given that Gold actually rallied at the end of the week and did generate what could be a low for this correction. Nonetheless, the chart of the stock has not yet turned bearish as the stock did get down to the 200-week MA, currently 19.21 (closed at 19.22) and that is a line that is unlikely to be broken if Gold does not break its support as well. Another probable positive is that the stock did gap down on Friday between 19.72 and 19.59 and that is not a gap that is supported by news, and therefore likely to be closed. On a negative note though, the stock did close below the 200-day MA, currently at 19.81, the break of that line for the first time since February does suggest the this recent uptrend that resulted in a high of 26.96 is over for now. Upside objective now is a rally back up to the 21.80-22.47 area where decent selling interest will be found unless Gold can resume its uptrend. Probabilities do favor the bulls this week.

CALM made a new 5-week low and closed on the low of the week, suggesting further downside below last week's low at 52.12 will be seen. A new sell signal was given on the daily chart, having broken the established daily close support at 53.20, which now will become resistance on a daily closing basis. Pivotal resistance is now found at 55.25. which if broken would suggest that the correction/downtrend is over. The next support level on both the daily and weekly closing charts is at the $50 demilitarized zone (49.70-50.30). A break of that level would open the door for drop to 46.45. Due to the assumption that some form of rally will occur in the index market this week, it is likely that the 53.20 level will be seen at some point. Nonetheless, the weekly close in the stock was worse than that of the indexes, meaning that a drop down to $50 this week is a good possibility. It does seem likely that the stock is going to be in a trading range between $45 and $55 for the next few weeks or couple of months, as such, it can be traded within that range. Probabilities favor the bears this week.

ENG generated an inside week with an uneventful close. The company reported earnings on Thursday and they were very slightly less than expected causing the stock to fall 21% in value from the high seen on Wednesday. Nonetheless, the end result was not indicative of any specific direction from here. The stock did generate a red close, meaning that the potential breakout seen last week was invalidated and the stock remains in a sideways trading market. On a possible positive note, Oil did generate a mini breakout and further upside is expected to be seen, meaning that clear energy stocks should benefit. The same chart evaluation given last week remains in place. Upside target area for the short term is the 200-week MA, currently at 1.61. Daily and weekly close support is found at 1.10 and given that the stock closed at 1.18 and did not break that support in spite of the earnings report being slightly less than expected, the probabilities favor the bulls. Target for the upside to be reached within the next 3-6 weeks is the 200-day MA, currently at 1.77. Based on the price, the fundamentals of the company, the problems in the overall market and the chart picture, ENG is a stock that the bulls are likely to key on for a 37% profit over the next 3-6 weeks.

FSLR generated a negative reversal week, having gone above the previous week's high but then closing red and near the low of the week, suggesting further downside below last week's low at 71.25 will be seen this week. The stock remains in a precarious situation due to the selloff in the index market but the fact that Oil seems to be heading higher should be supportive to the stock. The stock remains above the 200-week MA, currently at 67.80 and no support was broken on the chart this past week, meaning that if the index market is able to generate a small recovery, the stock should outpace to the upside other stocks. Last week's high at 78.96 is now short-term pivotal resistance. If broken, a rally to the $89-$90 would be the objective. An intraweek break of 69.56 would further weaken the chart. Probabilities slightly favor the bulls.

NEM generated a positive reversal week, having made a new 9-week intraweek low but then closing green and in the upper half of the week's trading range, suggesting further upside above last week's high at 74.37 will be seen this week. The chart is fully formed and presently favoring the bears given that a clear inverted "flag" formation is now in place on the daily chart. The flagpole is the big drop that occurred over a 4-day period of time from 86.37 to 70.60 and the flag is the trading range seen the past 9 days between 74.99 and 70.35. A break below 70.35 would give a 59.22 objective. On the opposite side, a break above 74.99 would negate the formation and give an upside 80.75 objective. The stock has been the strong one among Gold stocks and it would require Gold to go lower in order for the bearish flag formation to be triggered, meaning that the probabilities do favor the bulls slightly.

PLNHF made a new 22-month intraweek and weekly closing close but the bulls were able to rally to close slightly in the upper half of the week's trading range, suggesting a slightly higher probability of going above last week's high at 1.89 than below last week's low at 1.54. The stock does show some intraweek support around the 1.57 area that should hold up and from which a chart rally up to 2.00 is likely to occur. The chart suggests the stock will trade within the 1.55 to 2.00 range for the next 3-6 weeks. A break of either level would be short-term indicative.

PRTS reported earnings and they were much better than anticipated, causing the stock to gap up and rally 50% in value intraweek from the previous week's close. The stock fell back from the 9.00 high seen last week to close slightly above the 200-week MA, currently at 7.58 (closed at 7.89) but still in the upper half of the week's trading range, suggesting further upside above last week's high will be seen this week. The stock made a 12-week high and generated buy signals on both the daily and weekly closing basis that strongly suggests that the bottom to this downtrend has now been set at 5.90 and that a recovery rally is to occur. The stock now shows a double bottom at 5.90/5.97 that when added to the gap and the buy signals given, strongly suggests that a bottom is now in place. A drop back down to the 7.54 level should be seen this week, given that was the daily close breakout that brought about the short covering that took the stock to the 9.00 level. Adding positions at that price should be considered. To the upside, the chart objective is the 200-day MA, currently at 12.15. Nonetheless, there is intraweek resistance at the $10 demilitarized zone that will likely stop temporarily the advance, meaning that reaching the 200-day MA may not occur for several weeks or even a couple of months. On a daily closing basis, there is now support at 7.56 and at 6.70. A close below 6.70 would erase the value attained due to the better than expected earning report, meaning that additional purchases can be made using a 6.65 stop loss (on a daily closing basis. Probabilities favor the bulls.

SCCO generated a negative reversal week, having gone above last week's high (by $.03 cents) and then closing below last week's low and near the low of the week, suggesting further downside below last week's low at 59.89 will be seen this week. A new sell signal was generated on the daily closing chart, having closed on Friday below the 4-month daily closing low at 61.87 (closed at 61.41). Nonetheless, the stock did close on the high of the day on Friday, suggesting the first course of business for the week will be to the upside above Friday's high at 61.84 and if the stock does that and closes above 61.87 on Monday, the sell signal will be negated. A weekly close next Friday above 62.57 will also negate a sell signal given the previous week on the weekly closing chart. The stock did generate a gap down on the weekly chart (between 65.53 and 65.16) 2 weeks ago but there was no negative news to the company (the drop was commodity related), suggesting this gap is a magnet to be closed soon. This is especially true given that there is a mountain of support between the $60 and $61 level. The 200-day MA is currently at 64.63 and given that the high for last week was 65.19, it does mean that the gap remains a magnet to the upside. The report that the traders will be waiting for is the CPI number that comes out on Wednesday 5/11. That number is likely to be the deciding factor on what the stock is going to do for the next 2-3 months. The Fed hike that was announced and that came out as expected is supportive to the stock. Any daily close below 60.79 would give the bears additional ammunition.

VET negated last week's break of weekly close support, having closed above the previous low weekly close at 19.97 (closed at 21.67). The stock close near the high of the week and further upside above last week's high at 22.23 is expected to be seen this week. Intraweek resistance is found at 23.57 and 23.71 and pivotal at 23.93. To the downside and on a daily closing basis, support is found at 20.27, at 19.78 and pivotal at 19.27. Chart suggests that a drop down to 20.27 could occur but overall and with the failure signal against the bulls given and the stock still in a long term uptrend, probabilities favor the bulls continuing higher and breaking above the 23.93 level sometime in the next 1-3 weeks.

VNET generated an uneventful week though a green weekly close occurred. The stock closed on the lower half of the week's trading range, suggesting further downside below last week's low at 5.92 will be seen this week but there are no levels of pivotal support close by that are at risk of being broken, suggesting that another generally uneventful week will occur this week. In using the daily closing chart, there is short term pivotal resistance at 6.91 that if broken would give the bulls the edge and then at 7.33, which if broken, would give the bulls midterm control. To the downside and also using the daily closing chart, there is support at 5.84, at 5.40 and negatively pivotal at 5.21. The probabilities slightly favor the bulls though a drop down to 5.84 is likely to be seen before new buying interest appears.

ZLAB made a new 35-month low weekly close and closed on the low of the week, suggesting further downside below last week's low at 28.08 will be seen this week. Nonetheless, neither the 35-month low intraweek low at 25.74 nor the 25-month low daily close at 27.77 were broken, which does leave the chart open for the bulls to come back in and buy this week. The stock did have a downside magnet (an open gap at 30.14) that once the support at 43.32 was broken was likely to be reached. That gap was closed on Friday and now the stock is facing what could be an important retest of the 27.77 daily closing low and 25.74 intraweek low. The other main reason the stock fell on Friday was that all health industry stocks were under sell pressure last week but contrary to ZLAB, they did recover at the end of the day, suggesting the stock will do the same this week. The other negative to the stock itself is that Guggenheim lowered their upside objective from $134 to $85, which did give some ammunition to the bears on a short-term basis. By the same token, with the stock trading at $28, the lowering of the objective still means that the stock is 67% "below" that target and that should bring in buying interest if the overall market sees a respite in its selling interest. Any daily close below 27.77 would be a negative now. I do believe that the stock will generate a green weekly close next week. If that does occur, there is open air to the $40 level, meaning that objective could be reached this week.