CAT made a new 13-day low and closed near the low of the week, suggesting further downside below last week's low at 271.11 will be seen this week. Nonetheless, the low seen immediately after the earnings report (at 270.50) was not broken, meaning that so far this correction has simply been a retest of the fundamental price set after the report. Simply stated, the bears have not yet accomplished anything of note. If further downside is seen and the 270.50 level is broken, a retest of the previous all-time daily and weekly closing high at 264.54 would likely occur. A retest of that level would still not be an overall negative. By the same token, a closure of the runaway gap at 265.11 would suggest further downside down to the breakaway gap at 210.57 would become a target and that presently seems to be fundamentally not doable. As such, consideration can (and should be given) to covering the shorts this week (hopefully below 271.11). By the same token, further downside (at least down to the $265 level) is likely to occur at some point over the next 6 weeks, with the only question being "will it happen now or after a rally over the next two week to once again retest the all-time high at 293.88". That is the decision the charts are saying is "in play" this week.

DD generated a new 4-week intraweek and weekly closing low this past week. Nonetheless, the stock closed very slightly in the lower half of the week's trading range, suggesting just about equal chances of going below last week's low at 74.20 than going above last week's high at 76.86. The stock did generate a positive reversal day on Friday, suggesting the first course of business for the week will be to the upside and above Friday's high at 75.78. There is very minor intraweek resistance at 76.00 but above that, there is no resistance until 77.00 is reached. Overall, the charts do suggest that the stock will at some point over the next couple of months get down to the $70-$71 level with about a 50-50 chance of getting down to $67. As such and even if the stock generates a "bit" of a recovery rally over the next week or two, holding on to the short positions seems to be thing to do.

ENG continued to trade sideways, as it has done for the past 8 weeks. The $.30 level continues to be intraweek support that has held up during this entire time. The $.40 level is pivotal resistance. I do want to mention that in looking at the monthly charts for the past 15 years, the stock has been quite consistent in generating spike rallies every 3 years. The last rally was in January 2021, meaning that if the pattern continues, sometime over the next 5 months such a spike will occur again. Nonetheless and in every case, the rallies started to move up for a few months, meaning if that spike is to occur this time, the stock should start moving up soon. In also looking at the chart, the 2.75 level would seem to be the spike-rally high objective.

LXRX made a new 14-month intraweek and weekly closing low this past week. The stock is now showing 10 weeks in a row of red weekly closes, in which 41.5% of value has been lost since the last green weekly close occurred. By the same token, the stock did close near the high of the week, suggesting further upside above last week's high at 1.73 will be seen this week. If that does occur, it will be the first time during the last 10 weeks that the stock has gone above a previous week's high and that would be a sign that perhaps the downtrend is over. For that scenario to be confirmed, the bulls would need to generate a daily close above 1.80, in order for a failure signal against the bears to occur. In February 2022, the stock got down to the $2 level and since that time (78 weeks), the stock has traded below $2 for 14 weeks and above $2 for 64 weeks. The last time it traded below $2 for more than 2 weeks was from April to June 2022, which it traded below that price for 8 weeks. Right now, it has traded below that price for 4 weeks and with September being a seasonal down month, it is likely that it will continue to trade below $2 for at least another 4 weeks. Nonetheless, thereafter the stock should begin a rally that would have the 200-week MA, currently at 3.13, as the objective. Any drop below 1.31 (1.46 on a weekly closing basis), would negate this outlook. Stock closed on Friday at 1.65.

PLNHF made a new all-time intraweek and weekly closing low this past week, having broken the intraweek low at .50, which was made the 5th week of when it started trading back in 2018. The stock did close near the low of the week and further downside below last week's low at .47 is expected to be seen this week. Chart-wise, there is absolutely no reason to hold on to the stock. Making a new all-time low is as big of a negative as can be. Nonetheless, fundamentally, the two companies that are following the stock have recently given upside objectives of $1.06 and of $1.54. In addition, the company has no debt and this is what is being said of the company in a Google search "Planet 13 is one of the best American Cannabis Operator Stocks". As such, holding or liquidating the stock should be based on whether you believe the fundamentals support holding on to the stock, or not.

TCEHY made a new 11-week intraweek low and did close in the lower half of the week's trading range, suggesting further downside below last week's low at 40.19 will be seen this week. The stock had been trading between 41.04 and 46.46 for 12 weeks but that trading range was broken the previous week and now broken for the second week in a row. By the same token and since December, the 38.88 level has been support and that level was not broken this past week. This clear break this week does favor that level now being tested. it will favor the bears for a retest of the pivotal support at 38.88. If 38.88 is broken, there is open air below to 31.54. The Chinese market closed at 17908 on Friday and if the 17613 level is broken, there is open air below to 16100. As such, if that level is broken, liquidating the positions in the stock should be done. To the upside, a break above 42.43 would give the bulls some positive action and a break above 44.23 would change the chart to favor the bulls.

TNC has dropped 8.7% from the all-time intraweek high made 2 weeks ago. The stock closed on the low of the week, suggesting further downside below last week's low at 79.98 will be seen this week. It is very important to note that in spite of the stock making 2 new all-time highs 2 weeks in a row, the bulls were unable to break the previous all-time weekly closing high at 85.35 or even break the rest of that high at 85.25. The high weekly close made on this occasion was 84.95. On the previous 2 occasions that these highs were made, a 15.8% and a 34% correction occurred. On a daily closing basis, a close below 78.68 would give a sell signal that would offer a potential drop down to the 200-day MA, currently at 71.18. Short-term pivotal resistance is now found at 81.62. Based on what the indexes are likely to do this week, a drop down to 79.36 is likely to be seen and then a rally above 81.62 and up to the $85 is the most likely scenario. This suggest the best course of action at this time is to cover the shorts below 80.00 and re-short the stock around $85, with the September seasonal down move in mind.

TOL generated a negative reversal week, having gone above the previous week's high and the closing convincingly below the previous week's low. The stock did close near the low of the week, suggesting further downside below last week's low at 75.51 will be seen this week. The stock dropped 8.6% in value this past week (from high to low of the week) and that is a statement that the stock has found a top to this rally, at least for the next 6-8 weeks. Nonetheless, the short-term objective of this move down is not likely to be more than a drop down to the previous all-time daily and weekly closing high at 74.61. The stock could fall more than that in September, but for the next couple of weeks, a rally back up to at least the $80-82 level is likely to be seen. This means that consideration to getting out of the short positions this week should be given.

VET generated an uneventful inside week but did close red and near the low of the week, suggesting further downside below last week's low at 13.94 will be seen this week. The action seen does suggest that the high seen the previous week at 15.45 may be the high for the next few weeks. Nonetheless, that is not yet clear as the stock was able to stay above the 13.95 level this week and that is a short-term pivotal area on the daily closing chart. As long as it closes above that level, the bears will not have any chart ammunition to take it lower. Nonetheless, any confirmed daily close below 13.95, would suggest that at least a drop down to the 13.00 level will be seen. The bulls do have a problem at this time and that is that the 200-day MA is currently at 14.58, and that line was tested successfully 2 weeks ago with the daily closing high at 15.00. The stock has been below that line for 9 months and that usually suggests that the line will not be broken until the 4th retest of the line occurs. That means that the stock is likely to trade sideways, with a slight bearish bias, for at least another 4-8 weeks. As such, consideration can be given to liquidating the positions around 14.50 and looking to buy them back after September and probably around the $12 level. Any daily close above 15.00 would negate this outlook. A daily close above 15.00 would generate an upside target of $17.

VWDRY made a new 9-month intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 7.48 will be seen this week., The stock has now had 4 red weekly closes in a row and has dropped 21% in value over this period of time. The earnings report the previous week did give the bears added ammunition to help the stock head lower. There is no intraweek support below until the 7.12 level is reached. Additional support is found at 6.89 and decent to strong support is found at 6.55. In looking at all the charts (including the monthly chart), a drop down to the 7.00-7.12 level now seems to be a high probability. Thereafter, the monthly chart suggests that the stock is likely to trade back up to 9.31 before the end of the year. With the stock closing on Friday at 7.56, the bulls are facing further downside of about $.50 and recovery of about $1.70 per share, based on the charts for the rest of the year. That does suggest that holding on to the positions is the "thing to do". Overall, the fundamental picture "strongly" favors the bulls as the 12-month forecast by the rating companies, offers a median target of $59, with the low target being $41 and the high target being $105. That means that the fundamental picture offers a close to 800% appreciation in price by August 2024 (using the median estimate).

ZLAB made a new 10-month intraweek low but made a new 57-month weekly closing low. The stock closed on the low of the week, suggesting further downside below last week's low at 22.62 will be seen this week. On an intraweek basis, the stock still shows support at 22.52 and at 20.98. The weakness being seen has been driven by the Chinese market heading lower and then exacerbated a week ago with a lower than expected earnings report. Nonetheless, the fundamental picture remains highly positive with rating companies offering a median upside objective of $71 by the end of the year. Having said that and using the charts, the stock is in a very precarious position as the break of weekly close support at 23.75 needs to be negated this week (closed on Friday at 22.72) and the last two intraweek support levels need to hold up, or at least the 20.98 level not broken. On an intraweek basis, there is no resistance above until 27.74. A break of that resistance would mean that the downtrend is over. On a daily closing basis, resistance is found at 25.30. A daily close above that level would generate a failure signal against the bears, which would "suggest" that the downtrend is over.