mandevillean
Short

Potential Double Top on 15 min. S&P 500

AMEX:SPY   SPDR S&P 500
We continue to look for opportunity to short the S&P 500             on recent upswing from Friday's lows. Today's action did not trigger a short opportunity, as S&P 500             did not move below 2618 (see link to my previous post below).

However, a potential double top is developing on the 15 minute chart. A 15 min. close below 2633 (equivalent to 263.3 on SPY             ) would confirm the double top and trigger a short trade. One could then either immediately short on the breakout or wait for a rebound after a violation of the 2633 level.

We'll see what happens.


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