Intraday Glance At The S&P
The pop in equities across the board was, to say the least, short-lived, as the market quickly gave up its gains and went into negative territory. Most of this is do to mini-flash crash in the German markets. We have broken some support on the daily charts with the S&P breaking its trend-line from the recent 1120 lows, and Bank of America (BAC) giving up a lot of its day's gains.
To say the least, how the rest of the day plays out....nobody knows, but it should make for one heck of an interesting day, not to mention we got Bernanke speaking from Jackson Hole tomorrow.
S&P Intraday Chart Analysis.