From the Desk of Kimmy Sokoloff

I mentioned yesterday in the Live Trading Room that $SPY can head into its gap at 438.97 this week.

The market is happy because all banks passed their stress tests.

From the Desk of Kimmy Sokoloff

We saw pretty volatile moves in some names.

Fed Chair Jerome Powell spoke, and he has another public appearance tomorrow.

From the Desk of Kimmy Sokoloff

We had a nice ramp up yesterday. I called out $SPY at 434.34 for a move to 436.60 in the Live Trading Room.

The market is pulling in this morning, and Fed Chair Jerome Powell will be speaking at the open.

From the Desk of Kimmy Sokoloff

I mentioned this morning that odds favored a bounce.

$SPY broke above its eight-day moving average and headed higher.

From the Desk of Kimmy Sokoloff

$SPY and $QQQ had played catch-up to $DIA and $IWM, but they've moved down to their respective 21-day moving averages.

We've been heading lower for a week now, and we have a holiday coming up next week.

The market typically likes to rally before a holiday weekend.

From the Desk of Kimmy Sokoloff

It was a choppy market today, with the indices pulling in.

We'll see how $SPY handles the 430 area.

From the Desk of Kimmy Sokoloff

It's a quiet morning so far for the market.

We'll see how the indices handle their respective moving averages this week.

From the Desk of Kimmy Sokoloff

It was a down week for the indices, which was warranted.

We'll see if we flag here and head higher or trend down to the 21-day moving averages.

$DIA and $IWM are below their 21-day moving averages, while $SPY and $QQQ are not.

From the Desk of Kimmy Sokoloff

Tech pushed higher yesterday.

Let's see if we have follow-through today.

From the Desk of Kimmy Sokoloff

The market's been in consolidation mode, and that continued today -- except for the typical $AAPL/$AMZN/$GOOGL/$MSFT rally.

$SPY and $QQQ reclaimed their eight-day moving averages.

From the Desk of Kimmy Sokoloff

As I write, $SPY and $QQQ are below their respective eight-day moving averages.

They could potentially be heading down to their 21-day moving averages, which is roughly 429 on SPY and 354 on QQQ.

From the Desk of Kimmy Sokoloff

The Nasdaq pulled in the most today, with $QQQ dropping down to its eight-day moving average.

Now, this is either a bull flag or we'll head lower.