Time to short the S&P

As we can see, a clear double top has formed on the SP as it struggles to break resistance at 3000. Combined with the cracks that are beginning to show in the global economy, I believe this is a very clear case for shorting the S&P with our target being in the area of recent support


SL = 2990

TP = 2760

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Today the S&P reached new records and unfortunately hit my stop. I am still bearish on the US economy and believe we are nearing a peak. However, I will continue to wait for a better short entry, as there is no telling how irrational the market will get before the bubble bursts.