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US 500 Double Top??

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If the price stays the same on the daily chart today and I know it's a big if, has that formed a double top?

US 500_20190314_12.05.png

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@Nelsy-Boy, @andysinclair and @Caseynotes,

This is a very interesting thread. From a technical analysis perspective one must seriously consider the high probability of a downward move based on the chart alone. Most chartist would possibly agree that the odds are favouring a short move. I personally think that as well.

However, the one thing I have learnt is that never let personal opinion cloud your judgement. I appreciate this is very difficult and at times I find it difficult too. It is important not to let emotions interfere in trading decisions. Though I personally feel that US indices will be heading lower the price action does not warrant any initiating of a short trade. I am not disagreeing with anything in this thread.

@TrendFollower suggests one may want to consider waiting for a trend reversal confirmation before initiating any short trade. 

@TrendFollower likes to look at MACD and Donchian Channel (got that from Turtles by the way) for any trend reversal indications. 

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