Technical forecast for S&P

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S&P retested the 1591/93 all time high & came to a halt to form a short term bearish double top. As long as we hold below here targets are 1577 then 1569/67. Here we should bottom out at this stage.

We need stops on shorts from all time highs at 1591/93 on a break out above 1597 for 1606/07 then 1615/16 upside targets.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More