Double Top in the S&P500? On first glance it appears a Double Top formation has taken shape (an "Eve & Eve Double Top" as Thomas Bulkowski paints it) in the S&P500. There's one criteria missing however. Bulkowski stipulates that "the valley drop between the tops should measure at least 10%." The actual measure is in the 3.4% area. Of course there are "exceptions" (basically, anything can happen). The 1487 area would be a point to lend support should things head south, unless of course things fall apart.