15 September 2014

SP 500 and NDX Futures Daily Charts - Fight For the Right to Party

"Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."

Charles Mackay

Techs were struggling most of the day, as the SP 500 showed some futures driven resilience.

The Empire Manufacturing number came in high side, but the actual Industrial Production came in negative, with last month being revised in half. Go figure.

There will be an FOMC decision on Wednesday. With the Alibaba IPO in play, I don't think we will see the markets fall appreciably unless there is a serious break in the geopolitical stability.

Have a pleasant evening.