The chart pattern for Amylin Pharmaceuticals (AMLN) reveals a bull flag failure pattern.

XME, which is the exchange traded sector fund for the S&P Mining and Metals index, is revealing increased volatility at the top of its recent range and there is evidence that momentum has been waning since the mid-March levels.

The yield on the 30-year Treasury Bond looks set to test the 4.75% level, and how well Treasuries perform, during this testing of the upper range limits, will also help in understanding how much further the global equities recovery has to go.

Overstock.com (OSTK) appears to have consolidated its gains from late last week and a further leg up seems likely.

Cameco Corporation (CCJ) could well find support at the convergence of two moving averages.

One sector fund that seems primed for a directional breakout is IGW which represents the semiconductors.

The iShares S&P Global Technology fund has penetrated above its 200-day EMA, and last week's heavy volume session suggests that some large bets are being placed on the possibility of a new leadership initiative from the sector.

Intel (INTC) remains in a constricted range and, despite last week's upbeat earnings report, the extended channel has remained intact. If the bulls are to take control of proceedings, Clive Corcoran would expect to see a little more dynamism from stocks such as Intel.

Sepracor (SEPR) has the required characteristics for potentially more bullish behavior following the recent pullback.

The chart for Dryships (DRYS) shows a breakout, and there seems more capacity for further immediate progress.