What a nice bear market rally since early March 2009. It has been more than tuff to read, and had felt too bearish a couple of times, but with that said the current possible Shoulder/Head/Shoulder top could mark a nice ending of that entire rally.I have circled the Shoulder/Head/Shoulder top-formation on the chart above, and below the same formation is shown on an hourly chart.
A break below the Neckline, which is at 1,992 today will trigger it for a decline to at least 1,923.80, but I wouldn't be surprised to see a decline down to 1,881. A decline to 1,881 would also take out the support line from early March 2009.The Should/Head/Shoulder top can also be seen in the DJIA and the S&P 500.
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