AU generated a spike down week that negated the gains made the previous week, including the negation against the bears given last week. The stock closed on the low of the week, suggesting further downside below last week's low at 12.29 will be seen this week. Important and pivotal intraweek support is found at 11.94 (12.16 on a daily closing basis). A break of both of those would bring in new selling interest. On the other side of the coin, if the bulls are able to hold it at this level and rally, it will build a new and stronger support base from which new and stronger buying would likely occur. A daily close above 13.04 would be a positive sign for the bulls.

BABA made a new 78-month intraweek and weekly closing low and closed near the low of the week, suggesting further downside below last week's low at 71.40 will be seen this week. There is no support below until the 59.25 level is reached. The action in the stock is surprising given that BABA does the same thing that AMZN and GOOGL do, with the only difference is that it does that in China and not the U.S. (China has 4 times more population than the U.S). Nonetheless, the stock is trading 23% below its IPO opening price in 2014 at $95 and yet AMZN is 660% above its 2014 price and GOOGL is 345% above its 2014 price. Chart-wise, there is no reason to keep the stock at this time. Pivotal resistance is found at 86.29, meaning that as long as it stays below that price, the bears will be in control. The very minimum that the bulls must do this week to generate "any" buying" interest is a daily close above 76.76 (stock closed on Friday at 73.02.

CAT generated another green weekly on Friday but then, it was only by 1.5% and the stock did close slightly in the lower half of the week's trading range, suggesting a very slightly higher probability of going below last week's low at 172.71 than above last week's high at 184.95 (closed at 178.19). Like many other stocks, products, and indexes, the September lows (lows for the year) have not been tested yet and the probabilities favor the being what is happening now. Under that scenario, last week's low should be broken and given that there is no support below (on the weekly intraweek chart) until 167.08, it is likely that is the objective for this week. The 200-week MA is currently at 168.92 and that too is a magnet now. Using the daily chart, there is support at 172.71. Nonetheless, this stock does need the indexes to go lower as buying interest has been seen since JPM upgraded their upside objective from $205 to $220.

ENG made a new 11-week low and closed on the low of the week, suggesting further downside below last week's low at 1.05 will be seen this week. This move down has totally negated the gains achieved during the past 12 weeks and has put the stock back into a sideways trend between 1.00 and 1.60 for probably the rest of the year. Having said that, the stock is probably a buy around the 1.00 level given that there is a lot of established support on the weekly closing chart between .97 and 1.00 (around .91 on an intraweek basis. Given that the fundamentals of the company fully support these price levels, it is highly unlikely that much further weakness will be seen. Short-term daily close resistance is found at 1.15 and short-term pivotal at 1.32.

LI continued lower and made a new 7-month intraweek low and a new 17-month weekly closing low. The stock closed on the low of the week and further downside below last week's low at 18.43 is expected to be seen. Nonetheless, there has been no specific negative news on the company and its action from here on in, is totally dependent on what the Chinese market does, and the Chinese market is dependent on what the government will do to support Chinese businesses. That, unfortunately, is not something that cannot be evaluated at this time. Chart-wise, the stock is nearing a level of support around the $18 level that goes back 3 years and that has already been tested successfully on 2 previous occasions. Simply stated, this level "requires" new bad news to break. On a daily closing basis, there is important support at 18.20, and there is a fully established 3-point trend line on the intraweek chart that connects at 17.71. Pivotal intraweek resistance is found at 21.18.

NEM made a new 30-month weekly closing low and closed on near the low of the week, suggesting further downside below last week's low at 40.04 will be seen this week. has the same chart as AU with the exception that no failure signal against the bears has been given. Nonetheless, a drop below last week's low at 42.37 is likely to be seen. Nonetheless, the stock has been down to this area on 2 previous occasions over the past 8 week and on every occasion (40.27, 40.00 and this week to 40.04, meaning there is some established support here. There is further daily close support at 39.50, a level I have mentioned repeatedly the past 8 weeks, meaning that a new 30-month low could be made this week and the established support hold up. Pivotal resistance is found at 45.23.

PLNHF generated an uneventful inside week but did close in the lower half of the week's trading range, suggesting further downside below last week's low at 1.07 will be seen this week. The previous week the stock rallied 64% above the week's low the week before, suggesting some positive fundamental events are occurring to the company, suggesting that the stock has found support at the recent intraweek low at 1.03. There is weekly close support at 1.20 and pivotal at 1.11. Having closed at 1.19 on Friday, a green weekly close next Friday would be a positive.

QQQ continued the downtrend with a strong red close and now a clear and confirmed break of the 200-week MA, currently at 273.45. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 254.26. There is some minor intraweek support at 251.32 but below that there is nothing close by. Short-term pivotal resistance is found at 271.81.

SHOP made a new 41-month intraweek and weekly closing low but did outperform the rest of the market at the end of the week as it closed near the high of the week, suggesting further upside above last week's high at 27,39 will be seen this week. As such, it is possible that last week's low at 23.63 might end up being a bottom, if and when the indexes are able to hold on to the support levels mentioned above. Nonetheless, there has been no new news and the recent break of support does offer a minimum drop down to the $20 level, meaning that the upside of the stock is totally dependent on what the indexes do. Evidently is last week's low is broken, it will be an additional bear statement. Only an intraweek rally above 31.83 will take away control from the bears.

VNET closed the runaway gap to the upside on Monday, suggesting weakness but then outperformed the rest of the market by generating 3 green daily closes on Wednesday, Thursday and Friday. The stock closed near the high of the week, suggesting further upside above last week's high at 5.15 will be seen this week. Chart-wise and using the daily closing chart, the stock is looking generally positive and that is supported by the fundamental picture. By the same token, the bulls have not accomplished anything recently as they need a daily close above 5.46 to generate new buying interest. Any daily close below 4.53 would now be a negative sign.

ZLAB continued lower, having generated the 6th red weekly close in a row. Once again, the stock closed near the low of the week, suggesting further downside below last week's low at 27.44 will be seen this week. Nonetheless and using the weekly closing chart, this area between 28.55 and 29.70 (the stock closed on Friday at 28.73_ and that means that this week will likely be a green close week. Intraweek support is found at 25.78 and short-term pivotal resistance is at 37.75.