NEW YORK (TheStreet) -- The cloud has been a hot topic in the media and some of the cloud-related plays have also been hot in the financial markets. Has anything changed in the past month? Let's check the meteorological charts just to be sure.

Starting with the First Trust ISE Cloud Computing Index Fund  (SKYY), we can see a five-month double top formation in the chart below. With the selloff from $31 to $26 last month, volume began to increase on the decline. Notice how the On-Volume-Line (OBV) has inched lower. Increased volume on down days suggests that investors are liquidating longs.

NetSuite  (N) has been in a "low pressure" funk all year with prices working irregularly lower, as seen in the chart below. Prices could decline further to next support around $80, and a deeper decline to the 2014 low at $70 cannot be ruled out.

One of the darlings of the cloud space is  (CRM). CRM doubled in the past three years. In the past four months, prices of CRM have rolled over, but the OBV line is not suggesting that investors have bailed. With this general market weakness, CRM could dip to $60 but new highs could be on the horizon before long.

Amazon  (AMZN) has nearly doubled this year! In the chart below, we can see that the OBV line has confirmed the rally too. AMZN has held onto the bulk of those gains and the OBV line only suggests some minor profit taking.

Last, Big Blue or IBM  (IBM) is either in the cloud or wants to be in the cloud. Unfortunately, IBM is grounded and prices have yet to bottom.