SDY, which is a sector fund that tracks the S&P High Yield Dividend Aristocrats index, has, in common with so many funds, a very well-formed triangular pattern, and Clive Corcoran would suggest that an upside breakout could be imminent.

Of the major banks, the chart for Bank of America (BAC) encapsulates the recent indecision about whether a double bottom pattern can be confirmed. Friday's inside day formation suggests to Clive Corcoran that a breakaway session is imminent.

Clive Corcoran will be watching the Nasdaq 100 (^NDX) most closely over the next few sessions for any evidence that stabilization could get the upper hand, at least temporarily, over the continuing and painful de-leveraging process that is under way.

Price action in many industrial stocks, including Alcoa (AA), is pointing to the fact that the 2002/3 lows may not hold.

Schwab (SCHW) performed a rather striking reversal yesterday with an outside session that superseded all of the gains from Monday's session. There could be further corrective action to come here as prospects for the retail brokerage industry would seem to be questionable, to put it mildly.

IYR, the sector fund that tracks the Dow Jones US Real Estate index, looks vulnerable as it reaches back towards the $55 level.

Clive Corcoran looks at a twenty-year monthly chart of Citigroup (C). Can the US government let this fail? Can the US government afford to rescue this?

The CBOE Volatility Index (^VIX) has recorded unprecedented extreme readings, which underlines the heightened fear in the market place, but also increases the odds of a trap being placed for the over-enthusiastic bears.

Clive Corcoran suggests that the economic/industrial meltdown, which is now being ushered in by the aftermath of the total mismanagement of the banking system, will probably manifest itself when small cap stocks are trashed again.

The Ultra Short fund for the industrial sector, SIJ, continued its explosive breakout to the upside Monday and then ran into resistance. For those who like exciting trades, any sharp pullback could provide an opportunity to ride another upward spike.