The exchange traded fund which allows traders to take an inverse position with respect to the US Dollar Index (UDN) is revealing signs of a bear flag formation as the price moves back towards the 25 level.

Clive Corcoran would be increasingly cautious on the long side if the S&P 500 Cash index moves closer towards 840 today.

The Russell 2000 (RUT) retreated in Friday's session exactly back to the 20-day exponential moving average support, and a plausible upside target on this index from the extrapolated trend lines is up to the 470 level.

Clive Corcoran writes that the Federal Reserve is petrified of a deflationary spiral.

The exchange traded fund for the KBW Banking Index (KBE) has moved up almost without hesitation since the bottom on March 6. There is a lot of price congestion at the 16 level and the traders who have been riding this parabolic ascent may be looking to digest some of these gains.

AGG, which tracks the iShares Lehman Aggregate Bond Index, seems unable to make any progress and is nestling further into the downward wedge pattern.

One of the most liquid ETF's which tracks the semiconductor sector, SMH, could be bracing for a push up to the top of the trading range.

The powerful rally in the exchange traded fund which tracks the Banking Sector may have validated the claim that a momentum bottom was put in place for this sector during January.

There are a lot of descending wedge patterns across a variety of asset classes which suggests that deflationary pressures are still very much alive and well.