Very strong week last week with the SPX up seven days in a row.  It is up around 10% since the November low.  NDX up close to 15% since November.  It looks like we are in the 5th wave and so hard to call where the top is as it can be explosive in the 5th wave.  Both indices are at the top of the intermediate channels.   I had been calling for a 5-10% correction late January/early February which obviously did not materialize.  Either way, the primary trend is still up and the bull market has a long ways to go yet even if we do see a correction in here.  The transportation index is just below its all time highs.  It has made a triple top in here but is closing right at resistance the last few days.  The current consolidation looks like wave 4 of a 5 wave pattern.  If it breaks above the all time high we could see Trannies going substantial in the 5th wave of the 5 wave pattern.  The Russell 2000 (IWM) has been consolidating in what appears to be wave 4 of a 5 wave pattern.  It broke to the upside of the down trending channel and is trading right at the recent highs.  The IWM is trading at the lower edge of its up trending channel.  So, if the other indices take off, IWM could have a lot of catching up to do.

One thing about bull markets in the later stages, is that investors are looking for sectors that have not had the big moves yet.  One of those sectors is the Solar stocks.  The soalr stock ETF TAN appears to be basing in here.  There was a recent article talking about the Saudi's strategy moving forward as their oil fields come to end of life and they don't want to be solely relying on oil for power.  They have a big budget to move to alternative energies such as wind and solar.  Perhaps this is why solar stocks are starting to come off their lows and the charts are looking much better.  Definitely a sector to watch closely with FSLR high on my list.  Also, ones to watch, SPWR and CSIQ.  

Semiconductors (SMH) continue to power ahead.  Very strong sector.  The chart is very bullish and does not indicate any blow off in this sector. Watch stocks like AAOI, AEHR, AXTI, EMKR, GSIT, OCLR, UCTT With it, the Financials (FAS) are also super strong breaking out to the upside. I also, think that the biotech sector (LABU) will now start to catch up. It is up against resistance now having been up 10 days in a row.  10 days and resistance generally is a recipe for a pull back.  But, any consolidation should be short lived.  It is building a very strong base, though, over the last year.  It will be the biotechs turn to really shine here shortly.

Gold stocks (GLD, GDX) have seen their moving averages cross to the upside and both are in a rising channel after being in a down trend the last 6 months.  If we see markets have a blow off and top out, we could see money moving into gold and gold stocks as a hedge (also against a lower dollar).  

ABWN: Telcom junior that has gone from a break out of $1.00 to $3.40.  It is in a steeply rising channel trading near the top.  It traded as high as $3.44 on Friday closing at $3.40.  It is up significantly over the last month so be careful.  But if this momentum continues I could see this stock at $4.50.

AEHR: Stock has built a massive base over the past 10 years and last week broke out above the channel.  On Friday it traded up to $4.14 and closed at $4.11.  Stock appears to be on the verge of a move to $5.50. Use caution as it has doubled in price in 2 weeks.  But it is a strong chart and momentum may be added with shorts 7 days to cover.

APHQF: The pot stocks are heating up and this is one of the better marijuana stocks.  Stock has come from $1.00 and hit a high of $5.77 in November 2016.  It then pulled back and made a base with resistance at $4.40.  Last week it broke above that level and traded as high as $5.14.  I would look to go long over $5.14 with $5.77 as my target.  A break above the spike high of $5.77 and then $8.00 is the next target.  

AUDC: Stock recently broke out of a base pattern and traded up as high as $7.23, closing at $7.12 on Friday.  It made a nice consolidation pattern last week and I would look to go long over the recent high with a price target of $8.00.

AXTI: A junior semiconductor I have been writing about since it broke out at $3.75 and then again at $6.00.  Stock traded up as high as $7.42 on Friday closing at $7.35.  It is approaching the top of the up trending long term channel.  But I would look to go long $7.42 with a price target of $8.50 and then $9.25.  Don't forget, as the majors of any sector make big moves, investors will be looking for the secondaries that haven't moved yet.

CALA: The chart on this stock is very strong.  After building a base, the stock had a runaway gap, building a small wedge and then popping again trading as high as $9.42.  Over the last week it has been consolidating.  On Friday it had a nice pop to $9.78, closing at $9.20.  I'll be watching to see if it has the momentum to continue on above Friday's highs. Be careful as the stock is up from $4.00 so is vulnerable to a retracement.  But, next price target is $11.00.

CARA: Stock recently traded as high as $17.20 before pulling back over the last few weeks to $14.75.  It looks to be forming a bull wedge and I will be watching for a move over $15.00.  If it does then the price target will be $17.00 and then $23.00.  

CBAY: Stock has made a strong move off of its up trending bottom line at $1.50.  It has been up now for 2 weeks and trading right at resistance of $3.40 (closing at $3.23).  I would look to go long over $3.40 with $5.00 as the price target.  

CNAT: Stock is forming a nice chart pattern.  Back in December it gapped up trading as high as $6.30.  It then had an orderly retracement back down to support at $4.00.  It popped again and now is forming a nice ascending wedge.  I would look to go long over $5.32 with $6.30 as the first target and then $7.00.  

CNBX: Another pot stock on steroids.  With 100 million share float and coming from pennies I think it is due for a correction.  The chart is going parabolic trading as high as $4.41 on Friday closing at $4.00.  If the momentum continues, though, this stock could see $7.00 on the short term.  It still is the front side of the move so will be watching for a G/R day to go short.

CRBP: Stock spiked to $9.20 last week, up to its resistance level.  It now seems to be consolidating under that area.  If it can break through that level then $11.00 is my price target.  Shorts, 8.7 days to cover so could add momentum to a break out.

FATE: Technical break out on this stock on Friday.  It traded as high as $4.25 closing close to support (break out point) at $3.93.  I would look to go long this stock over $4.25 with $5.00 and $7.00 as my price targets.  Shorts 3.2 days to cover. 

GRPN: Huge break away gap last week as the stock traded as high as $4.80 filling the gap when it broke down last year.  If the momentum can carry it through that level then the price target is $5.50 and $6.00.  Shorts 5.4 days to cover.  Big float stock with huge volume.

GSIT: Another junior semiconductor.  Stock was in a strong up trending channel and Friday it popped $1.27 trading as high as $7.06, closing $6.99.  I would look to go long over $7.10 with resistance coming in at $7.50.  If it can break through that level then my price target is $10.00.

OCLR: Last week stock broke above a triple top resistance and now holding as support at $11.00.  I would look to go long over last weeks high of $11.10, especially if the SMH remains strong.  $13.00 is my target.

OSUR:  Stock has a strong chart pattern.  It is in a rising channel and last week it gapped above resistance at $9.50 trading up to $11.41 closing the week at $11.23. It is in a major resistance zone so needs to break through that If it can, then $14.00 is my next target.

RLGT: Stock recently broke out above resistance at $4.25 trading as high as $5.25.  It closed the week at $4.99. I would look to go long over $5.25 with $6.50 as my price target.  Shorts 6 days to cover.

ZSAN: Last week the stock broke out of a bull wedge trading as high as $3.50, closing the week at $3.12.  If this stock has the momentum to trade above $3.55 my price target is $4.50 and then $7.00.