SPX remains very bullish.  The index touched the top of the up trending channel line at the end of February and has made a normal three wave corrective pattern towards the bottom of the channel and finding support on the 50 day moving average.  On Friday it traded up to the short term declining tops line but failed to pierce it. It is hard to say where it will go from here on the short term.  The NDX is even more bullish making a nominal new high on Friday.  But any correction/consolidation in this area is healthy.  The Russel 2000 (IWM) could be forming a topping pattern in here.  But it may also be a sideways consolidation pattern that will catch up to the other indices if they break out.  We'll have to wait and see.  

The semiconductor (SMH) continues to power higher.  It has made several session tops in the last week at around $80 but is mid channel of a super strong up trending channel.  The reason for this strength shows up in stocks like ACLS, AMD, AMKR, ENTG, HIMX, ICHR, MU, NVDA, NVMI, QRVO, SQNS, STM, TER, TSEM, TSM, UCTT and XCRA. 

Biotechs (LABU) had a break down around 10 days ago and has rallied back up to resistance at $50.00.  It has traded down and found support on the lower channel trend line.  It needs to break through $50 and then $55 (triple top) to show strength.  If it does, then Biotechs could lead the market higher.

Gold (GLD) is in an up trending channel on the short term, but has made a double top at $120.  JNUG and NUGT are underneath resistance and not that strong.  Gold, therefore is not really showing any direction at the moment.  

ACLS: Junior semiconductor that is in an accelerating up trending channel.  On Friday it had strong follow through from Thursday's move trading as high as $18.90, closing at $18.80.  It is at the upper range of the channel so may consolidate in here.  But a move above Friday's high and $24.00 is the target.  Shorts 5.6 days to cover.

AKTX:  Two days of huge moves with nearly 19 million trading on Friday.  It looks like shorts that sell anything got trapped several times on this stock. Extremely volatile but it never seems to hold its spikes.  It is a low float so one has to be careful about going short.  I would look at shorting on a move from R/G on the daily chart.  In the alternative, over the days high it could go to $12.00.  

CNAT: The stock broke out of the base and through resistance at around $5.00 trading as high a $6.43 over the next two days.  But it closed down near the bottom of its trading range $5.77.  I would expect it consolidate in here before moving higher.  I would look to go long over the $6.43 range with $7.00 and $8.00 as the price targets.  Shorts, 3.5 days to cover.

LL: Stock broke through lateral resistance on Friday at $20.00.  It traded up as high as $21.06 closing at $19.73.  I would look to go long over $21.06 with $22.00 and $23.00 as targets.  Shorts 5.8 days to cover.