- Watch price around the February intraday high on the S&P 500 futures contracts.
- Double tops are rare, but powerful figures.
The S&P 500 is the chart of the day. One phrase: “potential double top”. We were watching the S&P 500 futures contract in session on Thursday. Price rallied straight to the February intraday high, stopped, and pulled back. Its rare to see such a perfect double top, and a fake-break above is still likely. But if news comes out that encourages selling, this level could be a powerful turning point.
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