From the Desk of Kimmy Sokoloff

The market was holding steady until a news report took the $SPX down to roughly 3,950.

That news report was later negated, and now we're back to where we started the day near the 4,000 level. 

Is there anything more important than the US Dollar?

They keep fighting me on it, but the market keeps proving them wrong.

It's the Dollar stupid!

There were a handful of extra-large Form 4 purchases reported by insiders and executives yesterday.

At the top of the list is another Form 4 from Matthew Jacobson, who disclosed an additional $20 million purchase in the software stock, Datadog $DDOG.

From the Desk of Kimmy Sokoloff

The market dipped in the last hour or so yesterday, though $SPY managed to close above 395.

We've seen a big bounce this morning, and we're back at the top of the range at 399.

From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts

This is one of our favorite bottom-up scans: Follow the Flow.

In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.

We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.

Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.

From the Desk of Kimmy Sokoloff

The indices consolidated most of the day.

And that's healthy.

From the Desk of Kimmy Sokoloff

Last week was pretty powerful. The indices moved like they were being chased by a bull.

We did hit $SPX 4,000. A slight pause with support at 3,973 would be healthy. Should this level hold, then we can see 4,037. 

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

The list keeps on growing.

A month ago there was only 1 sector trading above its 200 day moving average.

Then a couple of weeks ago, there was a second.

And now there are 5:

The Outperformers.

The Outperformers is our custom-made scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for significant moves.

The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.

The Dow Jones Industrial Average is up over 5000 points in less than a month. That's almost an 18% ripper in your face.

How's it feel?

Was it as good for you as it was for me?

From the Desk of Kimmy Sokoloff

Well over a month ago, J.C. and I talked in the live trading room about a "W" pattern forming in $SPY.

This pattern is still intact. The measured move I have on SPY, should this pattern hold, is roughly at the 407 to 410 level.

I only made one trade today, but I called out multiple setups in the room.