• Pattern formed – Double top
   
• S&P500 index has formed double top in daily chart at 2015 level. The index jumped till 2214.20 yesterday and started to show slight fall from the high. It is currently trading around 2195.90.
   
• On the higher side, temporary top formed at 2215 will be acting as major resistance  and any break above will take the index till 2240/2310 (161.8% retracement of 2116 and 1807).
   
•  The minor support is around 2170 (23.6% retracement of 2032 and 2214.40) and any break below targets 2156 (200- 4H MA)/2120.
  
  It is good to sell on rallies around 2200-2202 with SL around 2216 for the TP of 2170/2152