we're favoring a return to highs as of now.
this gets confirmed within a couple more daily closes above 2810.
invalidates completely below 2720.
a double top would bring us a target of SPX 1000. 3400-2200= 1200 --- 2200 - 1200 = 1000
we have many reasons to assume such a target is not only possible but likely.
if we get a higher or a lower high then no...
The butterfly gave us a nice trade already. friday before close price rejected @ key resistance once again. we anticipate a second sell of towards the second target. watch your entry and stops, ideally wait for 1 or 2h close below 8008, this should be confirmation enough. trade safe.
* not financial advise