SPX Double Top Chart Pattern

April 2nd, 2010

Did we see a double top on the SPX intra-day chart yesterday? Possibly! We rallied early and fast at then got stopped dead in our tracks at the recent highs. See the chart below.

Could this failure to breakout be the beginning. The confirmation would actually come if we CLOSE – not trade – below around 1,160. To me that would be a great sign for the bears.

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SPX Double Top Chart Pattern