14 October 2014

SP 500 and NDX Futures Daily Charts - Alibaba Rang the Bell

There was a dead cat bounce off key support that took the major stock indices back up to prior support.

But that rally faded into the afternoon. The bulls were able to slow the descent and avoid a late day plunge as we had seen yesterday.

Stocks managed to finish slightly higher, holding their key support levels.

So what next. CSX and INTC reported beats on earnings and revenues after the bell. Earning *might* help if they are overwhelmingly good.

We will be getting some macroeconomic news for the week starting tomorrow. The bulls need to bounce them here and hold on to the gains.

Have a pleasant evening.