Clive Corcoran intends to stay away from silver. Gold could be a better bet but there is a short-term bear flag developing on the spot chart for the precious metal.

Several technical indicators are at high risk levels raising the possibility of large scale risk on asset liquidations so Clive Corcoran will be standing aside on US equities until the FX/commodities backdrop becomes more transparent.

DBV, which acts as an ETF proxy for the FX carry trade, appears to have stalled at the top of its rebound from the Japanese selling climax in late March.

The daily chart for IBM, which has recently been registering all-time highs, reveals a candlestick sequence that can be a precursor to a change or pause in the current trend.

Strong whipsaw behavior in many commodities, as seen in Thursday's session, could be interpreted as markets becoming somewhat over-stretched in their willingness to seek out momentum among the high-beta assets.

Clive Corcoran repeats his bullish stance towards the S&P 500 futures, with two previously mentioned qualifications.

Yesterday was further validation that the path of least resistance for US equities right now is decidedly upwards - at least while the dollar cannot find any support from global fund managers.

The weekly chart for the USD/CHF pair shows that the Swiss currency continues to benefit from its status as the safe haven currency without equal as the flight out of the US dollar continues unabated.

Clive Corcoran knows to always accept what is clearly visible on the charts. And what is clearly visible is a bipolar market.

The effective yield on two-year notes of the Greek government has exceeded 20% and is just one of several risk aversion factors which contributed to the turmoil across global markets Monday.