AU continued the downtrend, having made a new 40-month intraweek and weekly closing low this week. The stock closed on the low of the week, suggesting further downside below last week's low at 11.94 will be seen this week. There is pivotal intraweek support at 11.29 (11.70 on a weekly closing basis), which if broken would weaken the chart even more. On the opposite side, pivotal short-term intraweek resistance is found at 14.29. Probabilities slightly favor the bulls for a positive reversal week.

BABA generated a new 8-year weekly closing low and closed near the low of the week, suggesting further downside below last week's low at 78.79 will be seen this week. Then again, the intraweek low from March at 86.68 was not broken, suggesting that the new multi-year weekly closing low is not yet a "full" bear statement. In addition, there is literally a "mountain" of support between $76 and $85 from an 18-month period of time between Feb 2015 and July 2016, which is highly unlikely to be broken at this time. This is especially true considering that fundamentally, the Chinese economy is highly likely to see a substantial rally once the "zero Covid" restrictions are removed at the beginning of 2023, meaning that the traders are likely to start anticipating that move from this moment on. As such, the probabilities do favor the bulls at this time. Evidently, a weekly close below 75.85 would make this evaluation wrong.

CAT had a very negative week, having generated a new sell signal on the weekly closing chart, a new and more-indicative-than-the-previous failure signal on the same chart, and a close below the 200-week MA. All of this put together, makes the stock be the recipient of the award of "the biggest win for the bears among the Held Stocks. The stock closed on the low of the week and further downside below last week's low at 161.73 is expected to be seen. There is no intraweek support below until the 149.63 level is reached. The stock gapped down on Friday, creating a new breakaway/runaway gap formation. The gap is at 170.29. The break of the 200-week MA, currently at 168.29, is likely to be tested. The question is "when?". That depends on whether the indexes are to rally this week or head lower. Either way, at some point the $150 level should be seen. Closure of the gap is the only thing that "might" change the chart outlook.

ENG generated a new 8-week intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 1.26 will be seen this week. The stock did close $.02 cents below the 200-week MA, currently at 1.28. As such, the close this Friday will be indicative. A green close would become a successful retest of the line and give the bulls new ammunition, while a red close would take away the control the bulls have had for the past 8 weeks. Key levels to watch on the daily closing chart are 1.16 and 1.49. A break of the former would give back control to the bears while a break of the latter would do the opposite. Probabilities are 50-50, likely based on what the index market does this week.

LI generated a positive reversal week, having made a new 17-week intraweek low but then closing green and near the high of the week, suggesting further upside above last week's high at 25.74 will be seen this week. This positive reversal is of note, given the weakness seen everywhere else and it does strongly suggest that the probabilities now favor a bottom having been found. Confirmation of a bottom having been built will occur if the intraweek high at 28.07 is broken. The stock did generate a successful retest of a previous low weekly close at 23.97, having closed the previous week at 24.09 and in the green on Friday. On a daily closing basis, the 24.00 level is now support. Probabilities favor the bulls.

IR generated a new 9-week intraweek and weekly closing low and closed near the low of the week, suggesting further downside below last week's low at 43.96 will be seen. Nonetheless, the bulls were successful in keeping the stock above a previous weekly close support of minor importance at 43.67 (closed at 44.07), suggesting that the stock itself seems to be outperforming the index market to the upside. On an intraweek basis, there is no support until 42.90 is reached and unless the bulls are able to generate a rally in the index market, that level should be reached. If broken, a drop down to the 200-week MA, currently at 39.94, should be seen. On a daily closing basis, short term pivotal resistance is found at 44.96. If broken, further recovery would likely be seen. Probabilities slightly favor the bears.

NEM made a new 26-month intraweek and weekly closing low but then only by $.45 cents, suggesting the selling interest might be waning. As it is, there is decent to perhaps strong intraweek support around the $40 level and the stock did get down to 40.50 this past week. Further downside is expected to be seen but likely will be limited and the probabilities do favor a positive reversal occurring this week (green close on Friday). There is daily close support at 40.91 and short-term pivotal resistance at 44.27. A break of either should bring additional movement in the direction broken.

PLNHF generated a new 28-month low weekly close and closed on the low of the week, suggesting further downside below last week's low at 1.14 will be seen this week. Nonetheless, it does need to be mentioned (once again) that the new low weekly close was only by $.01 cents below the previous week's close and that was only $.02 cents below the previous multi-month close at 1.20. With the market being strongly down over this period of time, the action seen is more supportive than negative. On an intraweek basis, there is pivotal support at 1.08. As long as that support is not broken, the bulls are more likely to come out the winners over the midterm. On a daily closing basis, any close above 1.25 would give the edge back to the bulls.

QQQ got down to the 200-week MA, currently at 271.93, with a low this past week at 272.02. The bulls were able to keep the stock above the weekly close support at 274.69, having closed on Friday at 275.51. The stock did close near the low of the week and further downside below last week's low at 272.02 is expected to be seen this week. Intraweek support is found at 269.28, which if broken would give the bears new ammunition and open air below to the next intraweek support at $260. Very minor but likely short-term indicative resistance is found at 291.05. This does suggest that it will be very difficult for the bulls to turn this around this week unless something unexpectedly positive occurs.

SHOP generated a new 40-month weekly closing low and did close near the low of the week, suggesting further downside below last week's low at 27.65 will be seen this week. The close is a very big negative that opens the door for a drop all the way down to the $20 level. Nonetheless and surprisingly so, the stock generated a green daily close on Friday in spite of everything else being red, suggesting there is a slight window of opportunity to negate the break of support that happened this week. For that to occur, a weekly close above 29.75 needs to occur next Friday. The same situation is found in the daily closing chart, meaning that any two days-in-a-row this week that the bulls can close above 29.75, will improve the chart outlook. On the other side of the coin, if the bulls fail to accomplish any of this, these positions need to be liquidated this week. Probabilities do favor the bears.

VET generated the 4th red weekly close in a row and in the process, has dropped 35% in price of this period of time. The stock closed on the low of the week and further downside below last week's low at 19.36 is expected to be seen. The stock did close below the 200-day MA, currently at 19.96 (closed at 19.60), and that has not happened since August 2021. All of this means that another red weekly close this Friday, would break the clear uptrend and cause the stock to drop to the next support level between 16.60 and 17.42. On the opposite side, a green close next Friday above the $20 level would give new ammunition to the bulls for a recovery rally up to the $24.00-$25.50 level. Nonetheless, at this time and likely for the rest of the year, it is unlikely that the stock will get above the 26.10 level. The stock did gap down on Friday and this is the third gap, meaning the probabilities are high that the gap will be closed and that is could happen this week. The gap is up at 21.54.

VNET generated a negative reversal week, having made a new 13-week intraweek high and then closing red and on the low of the week, suggesting further downside below last week's low at 5.77 will be seen this week. A drop down to the recent daily close breakout level at 5.25 is expected to be seen on this move down. Nonetheless, both the chart and fundamental outlook are positive for the stock, suggesting that ultimately holding on to the stock makes sense.

ZLAB made a new 7-week intraweek and weekly closing low and in the process, broke the previous 5 low daily close supports, meaning that for now and until either good news or the Chinese market rallies, the upside is over for the rest of the year. By the same token, the bulls were able to prevent a failure signal against the bulls occurring on both the daily and weekly closing chart, having closed on Friday at 37.00 and those previous closing breakout highs are at 36.79 and at 37.07 (stock closed on Friday at 37.00). This does mean that the bulls need to step up to the plate starting on Monday with a green close and confirming it next Friday with a green weekly close as well. With this being a Chinese stock, the probabilities do favor this happening. Any red close this week below 37.00 would weaken the chart. Any daily close this week above 41.41 would give the edge back to the bulls. Probabilities favor the bulls.