Markets appear to be rolling over in here with the SPX down the last 4 days.  It has support at 2320 and 2280 with the 50 day m.a. at 2260.  But a correction in here is healthy for this market that is up 30% in a year.  The NDX also is looking vulnerable to a pull back.  It looks like it is in the last part of the 5th move of a 5 wave pattern.  If it breaks below 5300 then the trend is broken and we will look to test lower levels.  The transportation index looks to have made a head and shoulders formation and it is trading below the moving averages.  This is a non-confirmation of the SPX and NDX move to the upside (negative divergence).  The Russell 2000 (IWM) looks toppy in here as well.  It is in a period of consolidation since December 2016 and should find support around 132.  But if the other markets break, this should also roll over in unison.

The biotech index (BIIB, LABU) are in an orderly retracement from the recent high (double top).  The LABU is in a short term down trending channel though it has bounced off of support and on Friday had a major reversal day.  We'll see if it can break through the declining tops line or if it will roll over with the major markets.

The semiconductors (SMH) is looking quite weak with a significant plunge on Friday, closing right at the lows.  The SMH is right at the major up trend line and lateral support.  So, we will see if it holds over the next few days.  But the Semis have had a huge run over the last year so are probably due for a correction.

The financials (FAS) also got smacked on Friday closing at the low of the day.  This sector was leading the market to the up side and may be leading the market to the down side.  

The gold market (JNUG, NUGT) is in a long term declining pattern and the NUGT is looking a little better than JNUG.  But the charts are hard to give any kind of signal right now and so I am avoiding them all together.  

AVXL: Stock is setting up a nice pattern forming a wedge consolidation over the last 2 months.  I'll be watching a move over $6.50 with $8.00 as the target.  Shorts, 12.8 days to cover so could add momentum to a move.

AXGN: Thin trader so more of a swing.  But it has broken through a double top closing at support of $11.30.  Prioce target $13.50.  Shorts, 10.6 days to cover.

AXON: Strong chart pattern, but trading up at resistance.  A break over $22.15 and we could see it move top the next resistance level of $22.85.  Through that level and it could run quickly to $30.00. Shorts, 17 days to cover so one to watch if it breaks out.

CALA: Strong pattern developing here.  It is narrowing into a tight wedge formation and is right at the up trending channel line.  If this stock has a move over $12.20 I think it is on its way back to $15.00

CALI: Looks like a dead cat bounce on Friday.  I would look to short this stock on a move into the $3.50/$4.00 range or a G/R move on Monday.

CBAY: Strong biotech chart, forming a wedge formation.  If it breaks above $4.50 then $5.00 is the target.

CNAT: Stock made a new 52 week high on Friday trading as high as $7.32 closing at $7.24.  I would look to go long this stock over Friday's high with $8.00 and $9.00 as the price targets.

MDXG:  Stock has been building a large base for the last year.  On Friday it broke through the double top at $10.00 and traded as high as $10.76, closing at $10.74.  I would look to go long over Friday's high but it does have some resistance at $11.00.  Over $11.00 and we should see $11.75 and then $13.00.  Shorts, 32 days to cover.