$SPY - Say it isn't so

Sep 4SPY We could be looking at a double top. I hope it doesn’t turn into a full-blown double top and reverses before breaking below the confirmation point.

A complete double top would be disastrous, and I’ll post the drop target when we cross that bridge. Let’s hope, for the market's sake, that it isn’t one of them.

Watch the $544 critical support area for a reversal. If it fails, we’re looking at the $523 to $512 area.

As always, I share my opinions and trades. I’m not suggesting anyone follow my trades. You do you.