AU did not follow through to the downside (as expected) and ended up having an inside week but a green close and on the high of the week, suggesting further upside above last week's high at 14.13 will be seen this week. Intraweek resistance is found at 14.92 and then again at 15.28. Intraweek support is now found at 13.47. Any daily close above 15.40 would be a short-term bull statement. With the stock having generated a failure signal against the bears this past week (both on the daily and weekly closing chart), as well as now showing a double bottom at 12.66/12.83, probabilities have strongly increased that the low for the recent downtrend has been found. Probabilities favor the bulls.

BABA generated a positive reversal week, having made a new 2-week low but then turning around to close green and on the high of the week, suggesting further upside above last week's high at 92.90 will be seen this week. If that does occur, last week's low at 87.76 will become a successful retest of the previous week's low at 86.71, which was a new 15-week low that broke the multiple bottoms created around the 88.00 level. If all of that occurs this week (likely), it will strengthen the chart for the bulls to a higher degree as the 86.71 low will become the 2nd successful retest of the 6-year intraweek low at 73.28 that was made in March. Short-term pivotal resistance is found at 104.85 and then and on a daily closing basis, at 106.86, which is where the 200-day MA is currently at. It seems likely that line will be tested within a week or two. Pivotal support is now found at 86.71. Probabilities favor the bulls. This is a stock where adding positions on a move back down to the 200 10-minute MA, currently at 90.51, can now be considered. The upside objective to be reached within 2 months is the $120 level, meaning that purchases around 90.50 and using a 86.61 stop loss and having a $120 objective, will offer a 7-1 risk/reward ratio.

BGNE generated a positive reversal week, having made a new 8-week low but then closing green and near the high of the week, suggesting further upside above last week's high at 173.86 will be seen this week. Intraweek resistance is found at 178.69 and again at 181.83. It is likely that one of the other will be reached this week but doubtful that both will be broken. On a negative note for the bulls, there is now a triple bottom between 160.48 and 161.08, which is a magnet to be broken at some point in the near future. Probabilities favor the bulls this week but the bears for the midterm.

CAT received positive news on Friday, in the form of having reached an agreement with the IRS for the 2016/2017 tax year problems they had. The agreement included that no penalties would be assessed against the company. The stock gapped up and with the help of a rallying market, it was able to recuperate 6% of the losses incurred the past 7 trading days. The stock closed on the high of the week, suggesting further upside above last week's high at 189.76 will be seen this week. Intraweek resistance is found at 193.15 and then nothing until the $200 level is reached. The gap at 183.28 is likely to be a magnet for closure given that the gains from the lack of penalties is a one-time thing that is not going to overall help the company in the future outlook. Nonetheless, important and decent support has now been established at the $178/$180 level that will require negative fundamental news or a falling stock market to be broken. Probabilities favor the bulls this week.

ENG generated a green weekly close and once again at the pivotal 200-week MA, currently at 1.63, having closed at 1.62 on Friday. This is now the 3rd retest of that line, suggesting that the probabilities now favor the line being broken. The bears have been totally unsuccessful in generating any kind of even a minor downside move, with the 1.45 level, on an intraweek basis, having been strong support during the past 3 weeks (1.50 on a daily closing basis). Pivotal daily close resistance is found at 1.77. which if broken would establish the bulls being in at least short-to-midterm control. Any move down below 1.45 would temporarily weaken the chart. Probabilities favor the bulls.

LI got down to the "last line" of intraweek support at 25.40, having made a low this past week at 25.36 and then turning around to close in the upper half of the week's trading range. This move does open the door for potential double low at a pivotal level of support. Using the weekly closing chart, the stock did generate another red weekly close but the bulls were able to stay above the important weekly close support at 26.01, having closed at 26.33. The stock did close slightly in the upper half of the week's trading range, meaning that there is a slightly higher probability of going above last week's high at 27.23 than below last week's low at 25.36. Any rally above last week's high would now strongly suggest that a bottom to this move down may have been found. There is no intraweek resistance above until the 28.90 level is reached, which is further strengthened by the 200-day MA, currently at 29.15. Pivotal midterm resistance is found at 32.15. Any move below last week's low at 25.36 would be reason to liquidate all positions. Probabilities slightly favor the bulls.

IR generated a green week and a close on the high of the week, suggesting further upside above last week's high at 50.36 will be seen this week. There is an open gap at 51.23 that beckons but there is indicative resistance at 51.76 that should not be broken without help from either positive news for the company or the overall market breaking pivotal resistance levels above. As such, consideration can be given to adding short positions around at 51.23 level, using a stop loss at 54.24. This recovery move seems to be a retest of the recent high at 54.14 that should be successful (fail to break above 54.14), opening the door for further downside to 44.85 or 41.60, as the likely downside objectives, to be reached by the end of September. Probabilities favor the bulls for the beginning of the week but the bears for a red close next Friday.

NEM did not follow through to the downside (as expected) and ended up having an inside week but a green weekly close and a close on the high of the week, suggesting further upside above last week's high at 43.41 will be seen this week. The previous week, the stock did get down to the $40, which is a level of decent previously established support and having failed to follow through in addition to the green weekly close, suggests that the worst of the down move may be over. On the other side of the coin, the bulls need to do "more" before that becomes a high probability. The first thing that the bulls need to do is generate a weekly close above 44.77, which would give a failure signal against the bears. A daily and/or weekly close above 46.55 would give a new buy signal. On an intraweek basis, the 42.88 level should now become intraweek support. Probabilities slightly favor the bulls this week.

PLNHF generated a new 7-week intraweek low but ended up having an uneventful week as the stock closed at the same level as the previous week. The stock did break the intraweek support at 1.37 and got down close to the next support at 1.26 with the low being 1.30 this past week. The stock did close in the lower half of the week's trading range, suggesting the 1.26 level of intraweek support will be visited this week. By the same token and using the weekly closing chart, the support at 1.38 remains unbroken. This does suggest that presently there is no direction to the stock but that the bulls maintain the probabilities in their favor for the midterm. More of the same is expected to be seen this week.

QQQ generated a positive reversal week, having made a new 8-week low but then closing green and above the previous week's high and on the high of the week, suggesting further upside above last week's high at 307.60 will be seen this week. Intraweek resistance is found at 314.56. On a daily closing basis, there is resistance at 309.10 and then both on an intraweek and on a daily closing basis at 314.38. It is unlikely at this time that the bulls will be able to get above the 314.56 level, meaning that consideration can be given to shorting (or adding shorts) above $314 and using at 314.76 stop loss. The $280 level continue to be the downside objective to be reached before the end of the month. Probabilities favor the bulls this week.

SHOP generated a "key" positive reversal week, having made a new 24-month intraweek low but then closing convincingly above the previous week's high and on the high of the week, suggesting further upside above last week's high at 34.90 will be seen this week. This does suggest that a major bottom may have been established. The stock had a $5.83 trading range and there is no resistance of consequence above until the $40 level is reached, meaning that it could (perhaps even likely will) be seen this week as that level is $5.20 from Friday's close. I did state the previous week that the stock would likely get back up to that level at some time over the next few weeks and that it would be a level at which to consider liquidation of the held positions. As such, I will be looking to liquidate the positions on such a rally. The probabilities thereafter would suggest that a drop back down to the $30/$31 would then occur. Intraweek support is now found at 30.55 and there is minor resistance at 36.75. Probabilities favor the bulls this week.

VET generated another red weekly close and closed slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 23.02 than above last week's high at 27.10. The stock has now dropped 24.7% from the high made 3 weeks ago but has only dropped 15.6% on the weekly closing chart, meaning that this is a correction but not yet a change of trend. The stock did gap up on Friday between 24.06 and 24.49 and given that there was no news to support the gap, it should be closed this week. The stock did get up to the 200 10-minute MA on 2 occasions on Friday but the bulls were unable to break above the level (currently at 24.76). That line is expected to be pivotal at the beginning of this week. Indicative intraweek support is found at 23.36. If reached but not broken, it would suggest that a possible inside week will be seen. Intraweek resistance is found at 25.41 that will be difficult to break this week. As such, there is a good possibility that the stock will have an inside week with a trading range between 23.26 and 25.41. Overall though, the longer-term outlook remains in favor of the bulls with the $31 level being the upside objective.

VNET generated a new 6-month intraweek and weekly closing low and the stock closed very slightly in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 4.30 than above last week's high at 4.98. The island formation that was the main reason for the original mention and purchase is at risk of being closed given that the a drop down to 3.95 would negate the formation. Nonetheless, having made a new 6-month low is a strong negative that does suggest that the positives of the island have disappeared. Islands usually generate strong moves up within a few weeks (certainly a couple of months) thereafter and that has not happened. As such, this trade has lost most of its glitter and looking for liquidation of the positions should be considered. Nonetheless, the stock did close on the high of the day on Friday and the first course of action for the week is likely to be to the upside and if the bulls can get above 5.43, or at least close above 4.75 on Monday, waiting for further indications can be done. Any break below last week's low at 4.30 would be reason to get out and take the loss.

ZLAB generated a positive reversal week, having gone below the previous week's low and then closing convincingly above the previous weeks' high. In addition, the stock generated a new 7-month intraweek as well as a daily and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 53.95 will be seen this week. Last but not least, the stock closed convincingly above the 200-day MA, currently at 45.55 and did confirm the break with the daily close above 48.35, strongly suggesting that further upside is to come. There is minor intraweek resistance at 54.35 and then open air to the $60 demilitarized zone. The $60 area is the main target at this time but it is a resistance of some consequence as in February 2020, the stock made a major intraweek high at 63.85 (60.53 on a weekly closing basis) that lasted 9 weeks before being broken and did generate a move back down to 43.06. As such, it can be surmised that something like that will happen at this time. Consideration to liquidating positions above the $60 level can be given if you are "trading" the stock and not being a buy hold investor. Ultimately (likely 9-12 months), the stock could get back up as high as $122. Probabilities favor the bulls this week.