One thing you can be assured of, when everyone thinks it is a top and markets are heading lower (or vice versa) the market goes higher and this week was no exception.  The Dow, Transportation and S&P 500 ran to new all time highs on Friday.  The bull market is still intact and the primary trend it up.  With so many people bearish and shorting stocks at what they think is the top could generate a market melt up as shorts scramble to cover.  Look for the SPX to hit 2,500 and then 2,550.  NDX did not make a new all time high but is within 62 points of it.  In Dow theory, when the Dow Transportation index (new high) confirms the Dow (new high), that is a buy signal, bull market confirmation.  

Russel 2000 (IWM) has not made a break out yet.  But it is in a bull flag formation right near the highs so is very bullish as well. 

Solar stocks are looking strong (TAN is the ETF). Watch stocks like CSIQ, FSLR, JKS, SEDG and SPWR. 

Semiconductors (SMH) was looking very weak but when SMH hit support it exploded to the upside.  It is vulnerable to a pull back in here as it is at lateral resistance. Watch AAOI for leadership.

Financials (FAS) made a nominal new high on Friday and closed up near its highs.  With earnings for financials coming out next week, we could see this lead the market higher.  

Biotechs (LABU, BIB) have broken out of their base, traded up and pulled back to support.  The chart looks strong and I expect biotechs to lead the market higher.  As well if LABU can get through the triple top  at $69ish then it is headed to the $80 range.  It is breaking out of a 18 month base.

Gold (GLD) has broken down from the up trending channel but it did bounce off support.  No real trend at the moment.

CBAY: Stock is trading near the consolidation high trading up to $5.86 on Friday and closing $5.65.  It needs to trade up through $6.00.  If it can $7.00 is the next target. 

FOLD: Stock is consolidating nicely after its gap up move last week and is holding support.  I am watching for a move through $13.30 with a price target of $15.00 and $18.00.  Short ratio, 11.4 days to cover so if it goes it could have extra momentum from a squeeze.

HDSN: June 23 the stock had a huge down day on record volume (triple witching) and then has been in a steady up trending channel.  That usually is a very bullish indicator.  It needs to get through $9.50 with $11.00 as my next target.  Short ration 8.7 days to cover.

MX: This semiconductor stock is in a strong up trending channel and I wrote about it when it broke $9.50 and and $10.00 and it hit my target of $11.00.  It appears to be accelerating in hear.  Through $11.25 and price targets are $12.00 and $15.00.  Short ratio, 7.75 days to cover.

SGMO: Stock broke out of lateral resistance at $8.50 and ran up to $9.50.  It has had an orderly pull back since then and on Friday broke through lateral resistance and traded as high as $10.50 and closing at $10.10.  If the stock can trade through $10.50 then $11.50 and $13.50 are the price targets.  Short ratio, 5.9 days to cover.