CAT continued to move higher, having added an additional 3.8% value over the previous week's close. The stock once again closed on the high of the week, suggesting further upside above last week's high at 258.58 will be seen this week. Based on the flag formation that was broken, the objective remains $304. Nonetheless, after the previous week's close, the 3 most aggressive analyst upside projections (out of 22 projections) were $255, $266, and $288 and the first of the 3 was reached last week. Last week, Wells Fargo lowered their projection from $228 down to $218. Nonetheless, at this time and based on the chart, there is no resistance above, meaning that what upside objective will be reached is not known. To the downside, a weekly close below 244.02 or a confirmed (2 days in a row) daily close below 244.79 will generate a failure signal against the bulls.

DOW made a new 20-week intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 58.80 will be seen this week. The stock broke the decent intraweek resistance at 56.43 based on the Wells Fargo price upgrade from $55 to $60. As the week proceeded, other analysts raised their own projections as well. Nonetheless, WFC projection is still the highest one as the others run the gamut from $47 up to $55. This breakout does change the chart picture with $51-$52 now being the possible down target based on the breakout. There is one important level above which could be pivotal in deciding what will ultimately happen to the stock this quarter. There is an open gap up on the weekly chart at 61.86. If the gap is closed, the bulls will gain short-term control totally. Nonetheless, if the gap is not closed, the bears still have a chance of making their voices heard. There is a small mountain of daily close resistance at the $60 demilitarized zone, which will be difficult to break without additional news. To the downside, there are a couple of short-term important support levels with the first being at 56.11 and the second one being at 54.80, both of them being on a daily closing basis. The first one was the breakout that occurred this week and the second one being the 200-day MA, which cause the breakout when broken. There is a 3rd level of support at 52.76 (based on a daily close) that will possible be reached if the breakout does not represent a bull market (unlikely). Either way, this is no longer a stock to keep for a potential profit to be made. It is a stock to get out at the best price possible.

ENG generated a spike rally this week, having recovered 20% from the previous week's low on an intraweek basis (on a daily closing basis, it is a 10% rally). The stock did generate the biggest trading range in 9 weeks. Nonetheless, the bulls failed to close above the previous low weekly close at .87 and the volume seen is not supportive of anything else than perhaps a short covering rally, meaning that the bulls did not accomplish anything of note, other than perhaps defining a bottom to this move down. The stock closed in the middle of the week's trading range, meaning that there is an equal chance of going above last week's high at .90 than below last week's low at .73. On a positive note though, the stock did give a buy signal on the daily closing chart, having closed above the previous 5-week daily closing high at .84 on Wednesday. Thereafter, the stock did fall back to close at a previous daily close support level at .82, meaning that if the stock generates a green close on Monday, a bottom formation will have been formed. If the stock closes above .88 any day this week, the bottom formation will be confirmed. If all of that happens, the upside target will become the 1.10 level. Any daily close now below .77, will be a negative sign.

LI generated an uneventful inside week but did close green and near the high of the week, suggesting further upside above last week's high at 22.80 will be seen this week. Though the action seen this past week did not generate any new signals, the bulls were able to close above a previous low weekly close of some consequence at 20.92, meaning they still have a short-term edge. Pivotal short-term weekly close resistance is found at 22.78 (closed on Friday at 22.49, which if broke would give at 26.93 objective. Any daily close below 20.93 would be seen as a failure and give the edge back to the bears.

PLNHF generated another green weekly close and closed on the high of the week, suggesting further upside above last week's high at 1.02 will be seen this week. The minimum upside objective of this recent mention was the 1.03 level and that is likely to be seen this week. The stock has now rallied 40% from the low and is in a position to make a short-term bull statement if it can close above 1.11 next Friday. Two daily closes in a row above 1.06 this week would also be seen as a bull statement. On a possible negative note, this rally from the .61 level has been straight up, meaning no recent support levels have yet been built. This means that the bulls must continue to move higher and generate further upside (including some failure signals against the bears) before any pullback occurs.From the past, there is weekly close support at the .93/.94 level.

TXT generated a negative reversal week, having made a new 4-week high and then closing red and near the low of the week, suggesting further downside below last week's low at 69.86 will be seen this week. The red weekly close has now built a double high on the weekly closing chart at 71.71 and 71.85 that is now ominous to the stock but also pivotal for the bulls should it get broken. Nonetheless, the bears were also not able to accomplish anything of consequence as the stock has traded for the past 9 weeks and for the most part between 69.39 and 71.85 (based on daily closes) and until one of those two get broken, neither the bulls nor the bears can claim any kind of a win. The bears will have a shot this week as the stock closed at 70.25 on Friday and is likely to go below 69.86 this week, meaning the 69.39 level is likely to be tested this week.

VET generated a positive reversal week, having made a new 52-intraweek low but then closing green and near the high of the week, suggesting further upside above last week's high at 15.77 will be seen this week. With Oil also possibly having built a bottom to the recent downtrend, it is possible the stock has done the same. Nonetheless, the bulls still have a lot to do in order to generate any tangible recovery signals. A daily close above 17.01 will generate a failure signal against the bears and that is what is needed at this time to give a recovery signal. Evidently, last week's low at 14.91 is now pivotal support. A break of that level will once again give a downside objective of $13.

VNET generated a negative reversal week, having made a new 8-week intraweek high and then closing red and in the lower half of the week's trading range, suggesting further downside below last week's low at 5.84 will be seen this week. Nonetheless, the stock has now traded for a full 3 weeks above the 200-day MA, currently at 5.48, and some pullback to retest that breakout is normal. The stock generated a breakout the previous week, having closed above the pivotal weekly close resistance at 6.11. With the stock closing on Friday at 6.10, a green weekly close this Friday would not only confirm the breakout but if the close is above the previous week's close at 6.13, a new and more bullish short-term buy signal will be given. Pivotal intraweek support is found at 5.25.

ZLAB generated and uneventful inside week but did generate another green weekly close and a close near the high of the week, suggesting further upside above last week's high at 49.24 will be seen this week. It is important to note that on Thursday, the stock dropped all the way down to 40.22 and it is the $40 level that is now considered important short-term support. Nonetheless, on Friday alone, the stock rallied 15.8% and that is a clear signal that the support level now has a successful retest of it and that further upside is likely to be seen. On a weekly closing basis, pivotal resistance is found at 48.80, which if broken would suggest the bulls will target the 200-week MA, currently at 72.98, to be reached sometime over the next 4-8 weeks. On a daily closing basis, that same pivotal resistance level is at 51.69. Pivotal support, on a daily closing basis, is now found at 40.69.