S&P's Double Top Spells Trouble By Harry Schiller About this article: If it were any other index, I'd be less concerned about the near term, but Wednesday's neat double-top patterns in the S&P cash and futures give me additional reasons to be on the alert for a near-term top. S&P Cash Again turned back at its Nov. 11 gap Lind-Waldock Recall that the S&P cash topped out Dec. 8 at the 918 level, not far from its Nov. 11 gap at 919.21. From there, the S&P would sell off again, reinforcing this level as near-term resistance. Then, after the 7% drop into last Friday's lows, it was back up again -- back up to the same level. Yesterday, after the gap-down open, the SPX popped up to fill the opening gap, continuing higher till it made it back up to a slightly higher high for the move... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200. More Stories From RealMoney Durable Goods Up Move Down the Tech Food Chain Jobless Claims Still High Bulls' Tenacity Is the Big Question Mark Should You Buy It? Pharmaceutical Product Development Bad News Trumps All Support for Banks Holds, For Now Bummer, Yields Are on the Rise Money on the Line Makes a Big Difference Structured Products: Unsafe at Any Price MORE STORIES FROM REALMONEY

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