It's good to be looking for the potential of patterns forming but also realize that almost any breakout looks like a double top before continuing on through resistance to new highs (wasn't it BlueStreak who would call a double top just because the Dow would close at resistance before breaking out to new highs?). Depending on how aggressive a trader you are, you'll want to see some sign of a reduction in momentum before going short in a situation like this - no need to step in front of a train.... Looks like everyone has been waiting since the 10:30 top for the CPI numbers to come out in the AM ....
I'm not advocating anything...I saw one formed looking H&S in early 07 that didn't snap a neckline and the potentiality that one is forming now. Thanks for your advice though, either way the markets go from here this is a change from recent events and therefore interesting.