12pm update - small declines...the start of something

The declines remain very minor, but they certainly help reinforce the idea that the last 3-5 days have been a topping formation.


sp'60min

Summary

You can see the first floor is the lower wedge/channel of 1382 today...which will have risen to 1400 by this Friday.

I find it highly improbable -considering the daily charts, that we'll be somehow still over 1400 by Friday.

So..the wedge will break to the downside, and that opens up a move into the low 1360s. A good 40pts downside across the next 3-5 trading days.

Time for lunch !