SPX recently broke through overhead resistance and made new highs.  It is mid channel and looks to be in the 5th wave of the 5th wave and could be headed for 2,500.  The NDX is even stronger than the SPX.  The channel lines are accelerating as it make new highs as well. It is looking like it is heading to 6,400.  The transportation index has final broken its down trend line and traded through lateral resistance.  The Trannies have a ways to go before they confirm the moves of the other indices but they are looking stronger now. The Russell 2000 (IWM) has been in a long period of consolidation and if the NDX and SPX do explode to the upside, we should see the IWM be carried along.  But, with every one thinking short, we could be in for a massive short squeeze in the markets.

Biotechs (LABU, BIB, XBI) are in a coiling pattern and building a long base.  They are trading at over head resistance.  But if they break out through this level they have some room to run.

Gold (GLD) is in an up trend but the gold stocks are, at best, trading sideways.  Gold, itself appears to starting a 5th wave of a 5 wave pattern.  But the gold stocks don't believe, especially the juniors (JNUG).  One of them will be right....

CGIX: After a big move up from $2.00 to $5.40 the stock is making a wedge formation.  I'll be watching for it to pop out of the formation to regain the recent high of $5.40.  Above that and we could see $7.25.  Short ratio, 6 days to cover.

CONN: Recently broke through resistance at $18.00.  On Friday it traded as high as $18.70 closing near the top of the range at $18.60.  I would look to go long over Friday's high with $21.00 and $27.00 as targets. Short ratio, 8.8 days to cover.

CPRX: Not that volatile of a stock but after holding support at $16.00 and now trading at lateral resistance of $2.30 this stock has a lot of potential to trade higher.  Over $2.40 and I will look to go long with $3.50 as the price target to start and then $6.00.  Short ratio, 5 days to cover. 

CRCM: Stock is in a nice strong up trending channel trading as high as $16.00 last Thursday and closing at $15.57 on Friday.  I would look to go long over $16.00 with $18.00 as the price target.  

HDSN: Recently broke through a double top to only fail and back down to form support at $7.80.  On Friday it popped up to $8.80 to close at support/resistance of $8.40.  If it can trade through that level with conviction then $10.50 is the price target.  Short ratio, 6.4 days to cover.

NBEV:  Stock has recently broken through lateral resistance at $6.50 and on Friday traded as high as $6.94 closing at $6.69.  It looks to me that this is the start of the 5th wave of a 5 wave pattern.  I would look to go long over $7.00 with $8.00 and $10.00 as the price targets.  

TGTX: Stock broke through lateral resistance on Friday trading as high as $14.10 to close at $13.85.  I would look to go long over $14.10 with resistance at $15.00 and $18.00 as the price target.  Short ratio, 9.8 days to cover.