Brush Engineered Materials (BW) has an interesting pattern that shows a bearish flag formation that morphed into a descending wedge.

Las Vegas Sands (LVS) slumped in early November on very heavy volume and is about to encounter overhead resistance from two key moving averages.

The energy sector fund, XLE, reveals very noticeable negative divergences in momentum, and the 200-day EMA seems like a probable intermediate term target.

The sector fund for raw materials, XLB, is displaying some negative divergences; and the performance of some of the industrial materials stocks as well as the shipping stocks suggests that fund managers are starting to take the possibility of a global economic slowdown more seriously.

Charles River Labs (CRL) has a bull flag formation.

Weyerhauser (WY) still exhibits the bullish flag pattern cited last week, and yesterday’s upward move on above average volume looks encouraging.

Nortel (NT) has been out of favor for so long that it appears to have discounted all the bad news and the current pattern looks as though some recovery may be imminent.

The long lower tail on the Nasdaq 100 (^NDX) chart, which reflects the strong reversal behavior that took place across the equity markets yesterday afternoon, may provide some comfort to the bulls today that a recovery/bounce pattern has been initiated.

Cummins (CMI) looks vulnerable close to the $125 level where it closed yesterday.

Weyerhauser (WY) has a bullish flag pattern and the proximity of yesterday’s close to all three moving averages suggests that the pullback pattern may have completed.