From the Desk of Kimmy Sokoloff

The $SPX rallied right to its 200-moving average, and it was rejected.

We bounced in the morning due to CPI, which was bullish for the market. Unfortunately the market is worried about other things.

Banks are really stinking up the joint.

From the Desk of Kimmy Sokoloff

We've got CPI up at bat this morning.

I'm sure we'll see wild swings, so it's hard for me to pick a stock before the data.

From the Desk of Kimmy Sokoloff

Overall, I'll give the market credit: It hung on most of the day.

Tomorrow morning we have a CPI report, so that may be a different story.

From the Desk of Kimmy Sokoloff

The market is very erratic right now.

Last night the futures were as high as 3,970, and now we're back to 3,900.

From the Desk of Kimmy Sokoloff

What a week.

On Monday in the live trading room I said $SPY is at 407.40, and we are extended to lock in some profits.

I didn't think we'd see SPY 390 in a matter of days.

From the Desk of Kimmy Sokoloff

All the major indices broke below their 200-day moving averages.

That's not really what I wanted to see, but it happened.

From the Desk of Kimmy Sokoloff

If the market can hold on to yesterday's low, I think there's potential we can head higher.

We really need to push past $SPY 400 with force and head straight to 405, then 408.

From the Desk of Kimmy Sokoloff

Fed Chair Jerome Powell spoke again today, but the market could not get going to the upside.

The semiconductors have been very strong this week. That's usually a positive sign for the market.

Maybe they're decoupling; time will tell.

From the Desk of Kimmy Sokoloff

The market hit the breaks yesterday after Fed Chair Jerome Powell’s speech.

Powell is to speak again today, which could make for sloppy trading.

From the Desk of Kimmy Sokoloff

That was a very volatile day, as we had Fed Chair Jerome Powell speaking.

And he's speaking tomorrow too.

From the Desk of Kimmy Sokoloff

So, the market had a little bit of a rug-pull yesterday.

I'd like $SPY to hold the 404 level, otherwise we run the risk down to 402.

From the Desk of Kimmy Sokoloff

Nice pop this morning in the indices, then we dropped.

I was hoping for $SPY to close the gap at 408 before the sell-off, but that didn't happen.