For the S&P 500 to match its out-performing rival, the Nasdaq 100, the index would need to make it through the 885 area, which will be a formidable hurdle.

The S&P Retail Index (^RLX) has now broken below two trendlines that fan out from the November 20 low. Data to be released in the next 24 hours could also be a catalyst for further downside activity in this sector.

The ETF for Gold, GLD, may have to regroup at the point of convergence of two key moving averages before penetrating the overhead resistance seen on the chart.

Clive Corcoran suggests that we may be near the bottom for the financial sector but could still go to new lows on the overall indices because of the quite dramatic change in global consumer behavior.

Xerox (XRX) has a rather well-defined bearish flag formation.

The chart for Wells Fargo (WFC) illustrates that the best long trades are often to be found when others are steadily covering short positions throughout the whole session.

Jacobs Engineering (JEC) would be appealing as a short to Clive Corcoran if it makes it back to $45.

There are a huge variety of exchange traded funds focused on fixed income asset classes which Clive Corcoran thinks might provide good trading opportunities in the current environment.

JP Morgan (JPM) has pulled back smartly from the selling seen last Tuesday, but as the stock returns to the levels where the selling emerged, traders could see another attack by short sellers.

Pan American Silver (PAAS) has been whipsawing abruptly over the last several sessions,  and Clive Corcoran suspects that new efforts to head back towards $18 will bring out the short sellers.