BABA generated a key positive reversal week, having made a new 8-week low and then closing above the previous week's high. The stock closed in the upper half of the week's trading range, suggesting further upside above last week's high at 88.48 will be seen this week. This is not necessarily a stock that is all that sensitive to the U.S. debt ceiling issue. There was a gap created at 84.50 that should be closed on Monday, especially considering that the stock closed on the low of the day on Friday and further downside below Friday's low at 84.75 is expected to be seen on Monday. Once the gap is closed, if the stock gets above last week's high, there is open air to the 20-day MA, currently at 89.36. Nonetheless, on an intraweek basis, there is no resistance until 92.92 is reached. Any drop below last week's low at 80.15 would now be a negative.

ENG generated an uneventful inside week but did close near the high of the week, suggesting further upside above last week's high at .457 will be seen this week. On the daily chart, last week's low at .383 will be seen as a successful retest of the multi-year low at .30, if the bulls can get the stock above the .458 high seen the previous week. A drop below .383 will weaken the chart once again.

LI made a new 36-week intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 29.96 will be seen this week. The stock rallied 18.8% from the previous week's close and shows open air above until the 31.95 level is reached (minor). Additional levels of resistance are found at 33.76 (minor), at n34.83 (minor to perhaps decent), at 34.86 (minor to perhaps decent), at 36.66 (decent) and at 37.45 (decent to perhaps strong). Intraweek support is now decent at 25.40 and the runaway gap is at 25.01, meaning that the stop loss can now be raised to 25.01 as the runaway gap should not be closed.

LXRX failed to follow through on its previous week's breakout, having had an inside week but with a red weekly close on the low of the week, suggesting further downside below last week's low at 2.84 will be seen this week. The stock gave a failure signal on the weekly closing chart, having closed below the previous 16-month weekly closing high at 3.17, as well as below the 200-week MA, currently at 3.16. There was no news to cause this drop in price, especially considering that the company had reported better than expected earnings the week before, which is what caused the breakout. It is important to note though, that the 8-month daily closing high that was first broken after the earning report came out is at 2.69, meaning that was the breakout that brought the rest of the rally to occur. If the stock closes below that level any day this week, the entire rally will be erased. If the level does hold up this week, a rally back up to at least the 200-week MA at 3.16, will likely be seen.

PLNHF negated the positive reversal week made the previous week and continued the downtrend, having made a 3-month intraweek and weekly closing low. The stock closed near the low of the week and further downside below last week's low at .63 is expected to be seen this week. The stock is now likely to test the 5-year intraweek and weekly closing low, which is at .60/.61, which was made in February of this year. There has been no change in the fundamental picture, meaning that it is highly unlikely that level of support will be broken, unless the debt increase problem is not solved. The .82 level continues to be pivotal resistance.

SNDL generated a negative reversal week, having made a new 2+-month intraweek high and then closing red and near the low of the week, suggesting further downside below last week's low at 1.62 will be seen this week. Nonetheless, the move down was not unexpected, given that the stock made a new all-time low at 1.29 just 3 weeks ago and given that there has been no fundamental change, a retest of that low is needed/required. By the same token and using the daily closing chart, the stock generated a mini-breakout when it closed above 1.60 and the stock closed last Thursday at 1.63 and closed green on Friday, meaning that it is possible that the retest of the low has been successful, at least on the daily closing chart. A daily close below 1.60 would re-weaken the chart, while a close above 1.81 would give the bulls new ammunition.

TCEHY made a new 19-week intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 41.08 will be seen this week. The stock did break a well-established intraweek support at 42.05, which has given the bears the edge. Nonetheless and on a potential positive note, the stock closed on Friday just above the 200-day MA, currently at 40.99, and until that line is broken convincingly, the negative action seen this past week could be reversed this week. For that to happen, the stock must stay above the 39.34 level and will need to then close above the 42.55 level in order to negate the break.

VET generated a negative reversal week, having gone above the previous week's high and the closing red and on the low of the week, suggesting further downside below last week's low at 11.69 will be seen this week. The stock did generate a new sell signal on both the daily and weekly closing charts, having closed below the most recent low daily/weekly close at 12.11 (closed at 11.74), and also closed below the 200-week MA, currently at 12.19. This means that the bears are in control and also means that if the bulls want to negate this break, it needs to be done this week. Intraweek support is at 11.34, which if broken would give the bears new ammunition.

VWDRY made a new 9-week intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 10.00 will be seen this week. A new buy signal was given with the stock closing above the previous 8-week weekly closing high at 9.62 (closed at 9.87). In addition, the stock now shows 2 successful retests of the 200-week MA, currently at 9.39, meaning that if the bulls are able to generate a new 14-month weekly closing high above 10.36, the stock will likely be "off and running". There are 22 analysts currently following the stock and the median target for the next 12 months is the $66 level, with the low projection being $44 and the high projection being $88. Any weekly closing low below 9.18 would negate all of this.

ZLAB bulls once again failed to confirm the breakout that occurred the previous week, and as such, the sellers took advantage of that. The stock did generate a negative reversal week, having made a new 3-week high but then closing red and near the low of the week, suggesting further downside below last week's low at 32.95 will be seen this week. The stock did generate a new (but short-term) sell signal on the daily closing chart, having closed below the most recent low daily close at 35.36. Nonetheless, the stock remains in a midterm uptrend on the weekly chart, with pivotal support at 31.70. The bulls continue to have success in generating signals that are bullish but then unable to follow through on them. By the same token and over the past couple of months, they have been accomplishing more than they give back, meaning that ultimately, the upside will likely be the end result. Any new daily close above 37.51 is now what the bulls need to get new and additional buying interest.