Watch lists are updated with the usual suspects.

The NASDAQ is approaching its old high which is a possible place for the market to stall and perhaps put in a double top. I note that in the futures market the possible double top has already formed. The weekly chart below shows that the futures market made this possible formation last week.

Name: Nasdaq Futures double top.GIF Views: 96 Size: 115.1 KB

The market, of course, can do anything. Least expected, however, is a robust rally from this point. If the market wants to stall at its double top I may try a short position.

The pre-open markets are up slightly this morning.