Now take a look at the S&P500 monthly chart. Talk about text book double top!
The weekly chart shows another double top on a more relative near term. Notice the 23-week and 52-week moving averages crossing over, yikes!
Now look at the DJIA monthly chart that doesn't look nearly as frightening.On the weekly chart; Again we have the critical moving average crossovers and the pesky bearish pennant formation.