What You Need To Know About In This Market
The S&P has given up all of its gains on the day, and they were plenty, and now finds itself trading in the red. As a result, the bears are inspired by the failure to push through the 1175 price level, and keeps them from having to consider whether they should cover their shorts or not ahead of Bernanke's Jackson Hole speech for now. What I've done for you below is provide a nice layout of what the bulls need to do in order to regain control of this most unpredictable market.
And my apologies for the use of the unmanly color purple on the chart. With a black background, my options are limited for what colors show up best when placing text on there.
Here's the Chart Analysis on the S&P.