NDX is a very powerful chart pattern making new all time highs last week.  The SPX is no slouch either.  Transportations have been telling a different story pulling back the last month down to support.  The Russell 2000 (IWM) after breaking above its trading range is consolidating again in a new range.  Hard to say what this means for the market.  Other than, I think if the larger caps continue to power ahead we should see the IWM catch up as we get rotation into lower price/smaller cap stocks.  IWM over 150 and I would say the game is on for small caps.  I suppose the two warning signs out there are the VIX is at record lows (no fear) and the MClellan Oscillator is negative (no breadth) and the % of stocks above their 40 day ma is 50% (and rolling over) when indices are making all new highs.

The biotechs (LABU) looking troubled.  A lot of it can be attributed to the major components coming off really hard (AMGN, BIIB, and CELG).  But LABU did bounce off support. It will be interesting to see if these big sell offs will turn around  and drive the biotechs back up.

Gold is right at the apex of a wedge formation and with $USD firming it needs to hold support in here at $1260/70 range which is the up trend line and lateral support.  For now I am staying away from the miners (JNUG, NGUT).

Energy seems to have changed direction and is showing up in oil stocks.  ERX (Oil stock ETF) looks to have made a V bottom with an extended right hand consolidation.  If it breaks above the lateral resistance it may indicate the game is on for oil stocks.

ADMS: Stock gapped up last week (twice).  It had an inside day on Thursday and Friday traded up through lateral resistance at $28.00 to $29.30 before closing on (now) support at $28.00.  Over the recent high and $31.00 is the price target.  Above that, it would be all time new high ground with lots of room to move.  short ratio, 3.7 days to cover.

AXGN: Stock at all time new highs as it has spiked up and followed through yesterday.  It traded as high as $24.90 closing at $24.55.  It is at the top of the channel so may be over bought.  But if the momentum continues then $28.00 and $30.00 are targets.  Short ratio, 5.6 days to cover.

CALD: Strong and powerful chart as on Friday it broke out of the wedge formation at the bottom of the channel and traded as high as $28.75 closing at $28.60.  It is the top of the channel, but I wouldn't be surprised to see a continuation to $31.00.  Short ratio, 6.4 days to cover.  

CARB: Stock made all time new high on Friday breaking out through a double top to trade as high as $27.00 and closing at $24.00.  Sometimes a spike with a large pull back provides for entry opportunities.  I will be watching to see how it trades next week..  Short ratio, 8.7 days to cover.

CRCM: Stock popped out of its consolidation phase on Friday trading as high as $19.68 closing at $19.63.  $21.00 is the price target.  Short ratio 4.4 days to cover.

DRNA: On Thursday the stock broke out of a falling wedge pattern after it held support at $4.85.  On Friday it traded as high as $8.23 before closing at $7.78.  If it trades over Friday's high I would look for $9.00 as the price target.  Short ratio, 3.6 days to cover.

HDP: Huge engulfing reversal bar on Friday.  Very strong pattern especially since it broke out above its consolidation pattern.  Stock traded as high as $18.65 closing at $18.33.  Price target $$20.00 and $22.50.  Short ratio, 3.1 days to cover.

Shorts to look at: ACHC, CATM (on a snap back), CVS, DISH, DKS, FL, FOSL, LPNT, (if it doesn't hold $44.00), PCMI, PLAY, SBH, SKT, TCO, and UAA.