US equity indices and sector funds are revealing a market with a split personality.

The Nasdaq 100 (NDX), having lead on the way up, could now prove to be the most vulnerable to a sharp correction.

The daily chart for QQQQ, the exchange traded proxy for the Nasdaq 100, is revealing waning momentum and the increased volume on the recent pullback is suggesting that this index, having out-performed the rest of the market for several weeks, is now looking the most problematic in the near term.

Broadcom (BRCM) has pulled back to a fairly critical area where the trendline should be expected to provide some support.

Tthe tone of trading in Asia and Europe suggests to Clive Corcoran that a pullback is quite likely in US trading today.

Microsoft (MSFT) has evidence of a bullish flag pattern with entry opportunities close to moving average support.

A broad-based index of commodities (RCT) is revealing a cup and handle formation which often precedes a major bullish breakout.

Clive Corcoran remains in the bear market rally camp, but is also not playing the short side of the market.

The consumer discretionary stocks, as tracked by XLY, have performed remarkably well since early March, and this is one of the few sectors which has broken above its 200-day EMA.