SPX 4-hour chart: Double Top

The S&P is caught between opposite outcomes, and the chart must decide.

October 15, the S&P 500 on the 4-hour chart just confirmed a double top today.

A double top is price rejected twice from the same area. The low between those attempts is the neckline, and it only confirms on a close below it.

That close happened below 7729.5. From here, the measured target sits at 7615.5, while the invalidation level is 7848.0, where a close beyond it cancels the pattern.

It remains open, and neither level has been hit yet.

A pattern never guarantees its target, and the same shape fails just as often.

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