There are, for the first time, suggestions on the weekly chart for the KBW Banking Index (^BKX) that a momentum bottom is finally in place for the sector.

Clive Corcoran's view is that the financial economy has undergone a major transformation in the last two years, and many consequences flow from this momentous change.

JP Morgan (JPM) is nestled at the tip of a triangular pattern which could portend a breakaway move that is more likely to be down than up.

HYG, which tracks the high yield corporate bond market, continued its rally Thursday and, suggests Clive Corcoran, should seek out the target suggested on the chart.

Archer Daniels Midland (ADM) is one of relatively few stocks attempting to climb above its 200-day EMA.

IYR, which tracks the Dow Jones Real Estate Index, is revealing some rather noticeable positive divergences.

Any kind of shock announcement by the FOMC as part of the statement accompanying the rate decision this afternoon could conceivably trigger another bout of selling, but it is more likely that a consolidation phase could now unfold.

Clive Corcoran would favor the long side with Disney (DIS), as the flag formation meets all of the requirements.

The Dow Jones Transportation Index (^DJT) suffered more than most yesterday and is now the least healthy looking of the major US equity indices.

The co-occurrence of two consecutive inside days for the S&P 500 and an NR7 session is often a precursor to a larger move, and perhaps we could be heading for a major breakaway move over the next couple of sessions.