Will be watching CHKP closely for a pullback, from March to July a Head and Shoulders pattern was formed. I will be watching to see if CHKP is in the process of forming another Head and Shoulder pattern. What are the odds it does it again?? Any way I will be watching it for a possible bearish trade.
In my opinion we are forming a double top on the SPY, I am looking for a pull back to around the 220 area before moving higher. I could be totally wrong (wouldn't be the first time!), I just have the feeling the market has moved too far too fast and has gotten ahead of it self and needs a pull back.