From the Desk of Kimmy Sokoloff

The indices had a dead-cat bounce yesterday afternoon, then rolled back over.

We have CPI data for July coming out at 8:30 a.m. ET.

I’ll wait till after the print to see how things look. 

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From the Desk of Kimmy Sokoloff

This morning I mentioned in the Live Trading Room that if we fill the gap on $QQQ down to 368.63 we can potentially have a bounce trade.

That’s what happened, and $SPY bounced as well.

I alerted the room at 12:35 p.m. ET that both indices can rally at least a point.

I was slow on entering short trades, as the market was moving slowly.

We’ve got CPI tomorrow morning.

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From the Desk of Kimmy Sokoloff

It’s been slim pickings with regard to stocks to trade, as the indices are in a holding pattern.

I’m sure they’ll pick a direction soon.

As we know, August is typically a bumpy month, as is September.

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From the Desk of Kimmy Sokoloff

It was a tough day today, with a lot of stop-outs.

The indices are still stuck under their respective resistance zones.

I did come out ahead today by a few points, but it was a struggle.

$LLY saved trading today.

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From the Desk of Kimmy Sokoloff

Moody’s hampered the mood of the market by downgrading a few of the banks’ credit ratings.

Late in the day yesterday, $QQQ started to lift higher, but that’s a no-go this morning.

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