From the Desk of Kimmy Sokoloff

The indices are gapping lower, and I'm watching to see how $SPY handles its 21-day moving average at 413.10.

I mentioned in the live trading room yesterday that this market has...

From the Desk of Kimmy Sokoloff

It was a nice morning and $SPY was trading in a one-point range.

But the clock struck noon and things slowed...

From the Desk of Kimmy Sokoloff

The indices were pretty whippy yesterday.

I'd expect the same today until debt ceiling negotiations are completed.

From the Desk of Kimmy Sokoloff

The market was all over the place today.

Look, we're waiting for the debt ceiling negotiations to end before the market makes...

From the Desk of Kimmy Sokoloff

We're still waiting on debt ceiling negotiations.

The indices pulled back on Friday.

From the Desk of Kimmy Sokoloff

The morning session turned into a consolidation after the recent breakout in $SPY.

Powell spoke at 11:00 a.m...

From the Desk of Kimmy Sokoloff

$SPY broke the February 2 highs, and we're almost at the 421.22 gap-fill.

Maybe we see that level today.

From the Desk of Kimmy Sokoloff

It was a wild day in the market.

We ran right to resistance on $SPY at 417.50 and moved a tad higher from...

From the Desk of Kimmy Sokoloff

Yesterday we broke out of this sideways channel on $SPY, and this morning the market is gapping up.

We have near-term resistance at 417.50 or so, which was the May 1 high.

From the Desk of Kimmy Sokoloff

The market was full speed ahead, again, and we closed a gap above at $SPY 415.27.

SPY held support at 410...

From the Desk of Kimmy Sokoloff

Talks over the debt ceiling are still going on, and the futures are higher in hopes of an outcome.

The 410 area has been a solid support level for $SPY. We've broken below there...

From the Desk of Kimmy Sokoloff

And, once again, this market is range-bound...

There are still opportunities out there, you just have to look for them.

From the Desk of Kimmy Sokoloff

The market awaits debt ceiling negotiations, and we have quite a few Fed speakers today as well.

We're still in a range, and time will tell which way we break.

From the Desk of Kimmy Sokoloff

The market was full speed ahead today.

And $SPY held on to the 410 support area once again...

From the Desk of Kimmy Sokoloff

We saw a nice late-day rally in the market on Friday.

We're still in the chop zone, and we literally have about 14 Fed speakers this week...

From the Desk of Kimmy Sokoloff

Happy Mother's Day!

$SPY was unable to hold on to the 412 area. We drifted lower all morning. 

From the Desk of Kimmy Sokoloff

This sideways action in the market is tiring.

We do find setups, but I haven't been enthused with most of them.

From the Desk of Kimmy Sokoloff

It was Chop City for the market today.

It will likely pick a direction soon. 

From the Desk of Kimmy Sokoloff

It's just like Tuesday...

With PPI coming up at 8:30 a.m. ET, I'm going to hold off on sharing ideas until I see how the market reacts.

From the Desk of Kimmy Sokoloff

What a day...

$SPY came close to the 415 level I mentioned this morning and then traded below 410.

...

From the Desk of Kimmy Sokoloff

CPI data for April will be released at 8:30 a.m. ET.

I'll hold off on ideas until I see how the market reacts.

From the Desk of Kimmy Sokoloff

The market was in a standstill today, awaiting the CPI print on Wednesday.

The indices held on.

Tomorrow might give a...

From the Desk of Kimmy Sokoloff

$QQQ hit a fresh high yesterday, and this morning we're pulling back.

We could be in a standstill until tomorrow's CPI data. 

From the Desk of Kimmy Sokoloff

It was a real tug of war today for the indices.

$AMD really pushed through, moving more than 5%.