Big markets were strong again with all of the markets making new highs.  And, of course, the Dow traded and closed above the psychological barrier of 20,000. The indices are trading above their channels on the hourly chart and appear to be accelerating. In layman terms, a market melt up.  Don't fight the trend, the bias is long. 

Semiconductors stocks continue to be leaders in this market with big moves today with stocks like AXTI, OCLR, TER and TSEM.  Construction stocks as well were strong today with stocks like AGX, CVEO, TPC, USCR, and WLDN.

AXTI: A stock I have been writing about lately popped today above resistance at $6.25 trading as high as $6.65 and closing at $6.60.  The stock is mid channel of a strong up trending channel.  It looks to be in wave 5 of a 5 wave pattern.  It is a break out day though with the big move and volume to accompany it.  Be careful going long here, though, as their is resistance at $7.00.  Going long at $6.70 if the momentum continues and adding to the position over $7.00.  A break through that level ($7.00) and $8.50 is the next target.  

CARA: Another stock I have been writing about lately also broke out today.  Coming from a double bottom of $4.50 last summer the stock has been in a strong up trending channel since then.  Now it is trading at the lower line of a up trending channel.  It broke resistance at $12.75 and traded as high as $13.55 before settling back down to $12.93, right on support.  It may consolidate for a few days in here but I would look to go long over today's high $15.00 and $17.50 as the targets.  Shorts, 4.2 days to cover.

CVEO: A stock I have been watching after it broke above resistance at $2.50.  Today it had a strong move up off the up trending channel line.  The company supplies camps and facilities for industrial projects.  So, with Trump putting Keystone pipeline back into play, the company had a strong move.  It is a large float stock so volatility might not be that great.  I would look to go long over today's high at $3.53 with $4.00 as the target and then $5.00.  We'll see if the momentum can follow through tomorrow.   

LXU: A stock that came onto my radar yesterday.  I didn't write about it but today it had another strong day.  It has broken to the upside of the bull flag is was forming closing today at $9.20.  I'll keep this stock on watch for a break above $10.00.  $12.00 and $14.00 are my price targets.  Shorts, 10 days to cover, so could add a lot of momentum to the trade on a break out.  

MAGS: An Israeli security company.  Stock broke through massive resistance today at $6.50 closing near the the top of its range at $6.88.  If the momentum continues, I would look to go long over $7.00 with $9.00 as the next resistance level.   

OCLR: Stock is right at the triple top.  I wrote about this stock yesterday and went long today at $10.20.  But I trade it flat as it could not break out.  It did eventually trade to $10.35 with good volume.  This is a $1.3 billion market cap company, so may not be that volatile.  But I would look to go long over $10.35 with a price target of $13.00.  Shorts, only 2.9 days to cover, so not a significant factor for momentum.