Chartology: S&P 500 Set to Battle Bernanke and Jackson Hole

Stock ChartsAfter breaking down through near-term trend line support, the S&P 500 backtested the trend line, failed, and moved lower. The setup calls for lower prices, but with a Ben Bernanke speech on the helm in Jackson Hole, anything can happen.

If the market wants lower, then keep a watchful eye on support 1 around 1390ish and support 2 around 1375. One thing is for sure, tomorrow should bring some trading volume. Trade safe.

More charts found here.

S&P 500 chart, channel support, technical support, s&p 500 summer rally

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S&P 500 chart as of August 30, 2012.  S&P 500 hourly bar chart with technical support levels and summer rally channel.  S&P 500 technical analysis. 

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No position in any of the securities mentioned at the time of publication.

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