The S&P 500 is at a critcal juncture, already having broken below the 50 day moving average and now ready to test recent lows. If we see a breakdown below 1487, we officially will be in a short to mid term downtrend. A violation of this level would also signal a double top short setup. Thomas Bulkowski has a good primer on the double top short setup.
It may be time to start beefing up the short watchlist.
Paul J Singh 
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