NDX broke out above resistance at 5450 and last week made new highs every day.  SPX, on the other hand traded up to resistance but didn't break through.  The NDX is mid channel of a strong up trending channel.  The Dow Transportation is trading at resistance of a down trending top line.  It seems to be breaking down.  So, it is always the questions will the NDX correct to match the other indices or will the other indices catch.  It is a critical juncture and only time will tell over the next week.

Semiconductors (SMH) traded into new high territory but on Friday failed to hold up and trade back down through support.  As a result you are seeing a lot of the semi's charts turning negative.  The financials (FAS) is also looking weak.  It appears to be forming a head and shoulders pattern and if it breaks the neck line, it is unlikely that the NDX can continue its move higher.  

The biotechs (LABU, BIB) seems to be the only index/ETF that is holding the market together.  Last week they moved out of the down trending channel and are now trading up to overhead resistance.  But they traded up every day last week.  

Oil (USO) looks like it is heading lower.  

Gold (GLD) has been moving up but has found resistance at the declining tops line.  But the gold miners (JNUG and NUGT) are very bearish.  I am staying away from gold stocks until there is some direction.  But they do not look bullish.

AKBA: Just wanted to mention this stock has it traded up to resistance on Friday but backed off sharply.  If it trades over $14.20 then $18.00 is the price target.  Shorts, 9.5 days to cover.

ATRS: Stock is in a steady up trending channel since lows of under $1.00 On Friday it traded up to resistance at $3.25 and pulled back to close at $3.12.  It is not that volatile but a break over $3.30 and we should see it trade to $4.00.  

CARB: Stock traded to all time new highs on Friday trading up to $21.85 closing at $21.60.  I would look to go long over Friday's high with $25.00 as the price target.

CNAT: Stock made a nominal new high on Friday at $9.40 but closed off sharply at $8.36.  It is at the bottom edge of the up trending channel and right near support.  A break below $8.00 and I would look to go short with $7.00 as the price target.  But a trade over Friday's high and $12.00 is the price target.  

MDXG: Huge move on Friday for this large cap stock.  It traded up as high as $12.89, closing at $12.69.  Shorts are scrambling to cover as 30% of the float is short.  I would look to go long over Friday's high with $15.00 as the price target.  Short ratio, 30.7 days to cover.