AAPL generated an impressive positive reversal week, having made a new 6-week low and then making the new 10-week intraweek high and then closing near the high of the week, suggesting further upside above last week's high at 233.09 will be seen this week. Having said that, there were a couple of negatives that might prevent the bulls from taking the stock higher. First of all, the stock generated a negative reversal day on Friday, having made the high for the week on that day and then closing red and on the low of the week, suggesting that the first course of action for the week on Monday, will be to the downside and below Friday's low at 227.62. The next potential negative is that there was a downside gap built on July 17th at 232.33 that had no reason to stay open due to the action in the overall index market. The gap was closed "on Friday" and that was the day of the negative reversal, meaning that the upside objective might have been reached. Last but not least, the all-time high weekly close is at 230.54 and the successful retest of that high is at 229.00 and the stock traded above the former for 3 ½ hours on Friday and above the latter all day, before giving all of that up in the last 10-minutes of trading, to close at 228.20. This type of action does suggest that the bulls "failed" on a day where they did not fail elsewhere. The thing to watch this week is the 222.71 level, given that the stock shows a breakaway/runaway gap formation and if the bears can get down and close the runaway gap at that level, the breakaway gap at 216.90 will be targeted and if both of those get closed, the bulls will have no ammunition to take the stock higher. A daily close above 229.79 will give the bulls some additional ammunition, meaning that is indicative resistance this week.

AXP generated a new all-time intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 271.49 will be seen this week. The Fed rate cut is specifically very helpful to the bank and credit industry and as such, this kind of action was not unexpected. Having said that, there are 28 different rating companies and presently 15 of them have the stock as a hold, 10 of them still have the stock as a buy and 3 of them have the stock as a sell. The highest given objective is $285 and the lowest is $215. The median average is $265 and that median has now been reached. Chart-wise, the stock has outperformed given that the stock had been in an up channel since April and the top of the channel connected right around the 262.37 level (on a weekly closing basis) and with the close on Friday at 268.99, the channel has been broken. This means that either the stock is on a new leg up in the uptrend, or is experiencing a bubble. With the analysts stating that fundamentally the stock is now at, over, or close to the upside target, the probabilities are now shifting toward the bubble outlook. Presently, there is nothing on the charts that even begins to suggest the stock is going to head back down. Nonetheless, the broken-to-the-upside channel line should be tested and that suggests that at least a drop back down to 262.37 will occur (on a daily and weekly closing basis. The previous all-time high daily close is at 259.84 and if that gets broken, the probabilities of a bubble having burst will increase and under that scenario, a drop down to the $224 level would become a possibility and maybe even a probability. For now, consideration should be given to covering the shorts (taking the loss) on a drop back down to the $262 level, but eyes should be kept open for a drop below $260.

BABA generated a new 4-month intraweek and weekly closing high and closed near the high of the week, suggesting further upside above last week's high at 89.54 will be seen this week. This was a decent positive but the bulls find themselves at a strong pivotal resistance level that needs to be broken before confidence that further upside will be seen. On an intraweek basis, the pivotal level is at 90.46 but on a daily "and" weekly closing basis, the pivotal level is at 88.54. The stock closed on Friday at 88.29, meaning that every day this week (starting on Monday) will be important and indicative. One analyst on Bloomberg TV said on Friday that this stock is way underpriced and should be at a much higher price. Much will depend on what the Chinese index does this week. It too, is at an indicative resistance level. Short-term indicative daily close support is presently at 84.69. A daily close below that level would take ammunition away from the bulls.

DD generated a new 3 week high and closed near the high of the week, suggesting further upside above last week's high at 84.19 will be seen. The stock did have a positive week but the bulls did not accomplish any break of resistance, meaning that the bears remains with a very slight edge. Nonetheless, the levels of resistance are close by above and if broken, the chart would change totally. Pivotal intraweek resistance is found at 85.12/85.16 (84.97 on the daily and weekly closing chart). A daily close above 84.25 would give the bulls some additional ammunition. The stock closed at 83.34 on Friday. Pivotal daily close support is found at 77.22.

FSLR generated a new 12-week high and broke pivotal weekly close resistance at 233.34. The stock closed in the upper half of the week's trading range (closed at 240.20), suggesting further upside above last week's high at 251.67 will be seen this week. Pivotal daily close support is now found at 228.67 (227.43 intraweek). It is important to note that the stock did see some decent selling above $250 as both occasions it got above that level, it sold off to close at 241.81 and at 240.45. This means that even though the bulls accomplished a breakout this week, selling of some consequence is still being seen. Nonetheless, the breakout is of note and not likely to be negated, meaning that covering the shorts (and taking a loss) is likely the best option available. A drop back down to the weekly close breakout at 233.34 is likely to be seen and that is the area where consideration should be given to covering the shorts.

IBM made the 3rd new all-time intraweek and weekly closing high in the past 4 weeks and closed near the high of the week, suggesting further upside above last week's high at 218.84 is expected to be seen. The stock made the high early in the week and then saw a 3.9% drop in price (down to 210.37), before recovering most of the loss. The chart does suggest that a bullish flag formation could have been formed, meaning that if a new high is made, it could mean that the stock would have an objective up to 229.34. By the same token, a break below 210.37 would suggest that a drop down to the $200 area could happen. It is important to note that the stock is trading way above the price objectives given to the stock by the rating companies, with the highest price objective given by them in $210. As such, consideration to covering the short position put on this week should only occur if the stocks gets above 220.30 (top of the $220 demilitarized zone).

JD generated a new 4-week intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 28.90 will be seen. The stock did increase 8% in price above the previous week's close, so it was a decent positive. Nonetheless and like with the Chinese index and like with BABA, the stock is close to an intraweek pivotal level of resistance at 29.71 (29.29 on a weekly closing basis), that is broken would give the bulls short-term control with an additional 16% price appreciation upside objective. Any daily close now below the 200-day MA, currently at 26.85, would negate this move up.

LXRX continued to trade sideways with no sign of what is to come. The stock did make a new 2-week high by $.01 cent but then closed slightly in the lower half of the week's trading range, suggesting a slightly higher chance of going below last week's high at 1.60 than going above last week's high at 1.76. Short-term pivotal intraweek resistance is found at 1.87 and midterm pivotal resistance is at 1.99. Any drop below the previous week's low at 1.56 would be seen as a trigger for lower prices. The stock has now built the chart formation to its fullest degree, meaning that indicative things are now likely to start to happen soon (no sideways action anymore).

SNDL nothing new to report here as things remain in the same trading range as has been seen for the past 17 weeks. Having said that, there is short-term pivotal intraweek support at 1.81 and at 1.84. A break of 1.84 will weaken the chart slightly and a break below 1.81 would likely cause the stock to drop down to 1.64 (based on a weekly close). Only a daily close above 2.22 would give the bulls a new edge. Stock closed on Friday at 1.99.

VWDRY generated a negative reversal week, having made a new 7-week intraweek high and then closing red and on the low of the week, suggesting further downside below last week's low at 7.83 will be seen this week. The bulls failed to generate a break of pivotal intraweek resistance at 8.30 (high for the week was 8.25), meaning that the bears maintain the edge. This was a disappointing week as FSLR, the main stock in the clear energy market, generated a breakout, suggesting the stock should have done the same thing. Having said that, 3 weeks ago, the stock made a new 11-week low and that low has not yet had the needed/required retest, suggesting that a drop below last week's low could end up being that. Daily close support should be found at 7.62, which based on what has happened fundamentally, should not be broken. A rally above 8.30 would be a breakout and a drop below 7.20 would be a breakdown.

ZLAB generated a 7-month intraweek and weekly closing high and closed on the high of the week, suggesting further upside above last week's high at 21.91 will be seen this week. Of all the held stocks, this stock was likely to be the most indicative of all, at least on a "tangible" basis breakout. On an intraweek basis, there is no resistance of consequence until 25.83 and even then that resistance is minor and old. The next level of resistance of intraweek consequence is found at 29.64. Having said that, the bulls need to stay above the $20 demilitarized zone (19.70-20.30) on a daily closing basis. Any daily close below 19.70 would negate this breakout.