Double top could well be forming, but it does need to be confirmed when/if reaction low is broken and price remains under that support to become resistance.
My take on this: http://www.elitetrader.com/vb/showthread.php?s=&postid=1508954#post1508954
IMO it doesn't look 'healthy' for bulls. What a divergence, closed below last week's open as well. Histogram ready to cross over.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1508954>
The ones that've been locking profits early (which is OK by Oscar ) and by so doing implementing an inverted risk/reward are feeling the pain for sure now.
more momentum, more trendy, each square is equivalent to 13+ ES points. I envy the ones that can scalp ES with consistent profitability...bastards :)
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1508643>