Has the downtrend resumed?

Have we reversed trend? Just looking at the tape today, and the momentum we found on the downside, it seems probable.

We had some divergence play out on both the daily and 8 hour charts as we created this double top in the 4510s, of which I warned yesterday.

Back in February, we had also detailed a double top in the 4300s: before we headed well below though the double top was tested again about halfway. See the chart below for details of where we stand.

It will be interesting to see where we find support, and whether we do retest the middle of this double top formation.