From the Desk of Kimmy Sokoloff

This week is very busy.

We've got tons of economic data, a Fed rate decision on Wednesday, and Big Tech earnings on tap.

From the Desk of Kimmy Sokoloff

That's four Fridays in a row the market has had a great rally, though there was a decent sell-off in the last half hour of trading.

I had a few stop-outs today, a typical Friday with messy action.

From the Desk of Kimmy Sokoloff

So far, every Friday this month the market has traded higher, with strong gains.

Can we make it a fourth Friday rally in a row?

From the Desk of Kimmy Sokoloff

That was a nice pop this morning, with $SPY trading as high as 404.

I put on a long position in SPY last night at 401. So it was a nice and very welcome good-morning gift.

From the Desk of Kimmy Sokoloff

The market is back to happy mode.

$SPY is trading above 400, and all is well.

From the Desk of Kimmy Sokoloff

This morning $SPY broke below its 200-day moving average at 395.50 and then managed to come back above it.

It shrugged off $MSFT’s earnings report last night.

I call it the comeback kid! 

From the Desk of Kimmy Sokoloff

$MSFT reported last night, and, at first, it rallied above $250. And then management had their conference call.

We'll see how it acts, if dip-buyers show up or it just heads back down to $226.

From the Desk of Kimmy Sokoloff

There was a major glitch at the New York Stock Exchange today, and it really did a number on the opening of the market.

Prices were all over the place, and names were halted.

Three of my positions below went to my target. But due to the glitch they won't get filled today, which they really should.

It was a day to step aside.

From the Desk of Kimmy Sokoloff

The futures are indicating lower this morning. A healthy digesting is warranted.

I'd like to see 396, roughly, held over the next few days on $SPY.

If we push past 402.70, then we can potentially see 405, the next level above.

From the Desk of Kimmy Sokoloff

I mentioned in this morning's note that $SPY had a date with 400.

We hit that level and ran to 402.60, which was top of the Bollinger band.

From the Desk of Kimmy Sokoloff

It looks like $SPY has a date with 400, as long as 392.75 holds.

That was a powerful day on Friday. The buyers stepped in.

From the Desk of Kimmy Sokoloff

This is the third Friday in a row that we've had a melt-up.

We closed the gaps on the indices, and away we went.