Double Top Death Trap

Watch the 1440 pivot area Monday on the S&P 500 to see if we get a bounce that can hold that area.

The charts show some tremendous weakness confirmed by a sell off in technology stocks.

It appears that earnings weakness is raising its ugly head even on the S&P.

All the indicators are now trending down.

With the current price trend, should the 1440 pivot fail, the first target could be the 1380 to 1400 range.

The question then becomes where to afterward?

Have we finally topped out, or will there be one last push higher by year end?