The weekly chart of SPDRs Select Materials ETF (XLB) is showing a bull-flag type pattern since running up off the lows of February, looking much like the weekly chart of SPY.

Higher volume accompanied Tuesday's advance, enabling the NASDAQ to score its first confirmed accumulation day in more than a month.

The Corn ETF (CORN) broke out from a short-term consolidation on heavy volume March 31, after a three-week consolidation.

Why is Deron Wagner watching the CurrencyShares Euro Trust (FXE)?

The iShares Biotech ETF (IBB) could potentially be forming such a topping pattern over the next month or two.

Since putting in a double bottom type pattern at the beginning of the year, iShares Long-Term T-Bond ETF ($TLT) has rallied off the lows and formed a bullish consolidation pattern above support of its rising 10-week moving average.

The Transportation ETF (IYT) remains in decent shape, holding above the 20-day EMA, but a closer look at the volume reveals that the recent breakout was sold into strength.

In scanning the energy sector, we saw several energy ETFs with bullish basing patterns over the past five to six months. SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has been in base mode since topping out last October.

After forming a bearish, six week base at the lows, iShares MSCI Brazil (EWZ) is poised to resume its downtrend soon, especially if the price action is unable to push through the declining 50-day moving average.

Chinese tech stocks continue to act well, and China Internet ETF (KWEB) has recently broken out to new highs on strong volume.