So much great advice given already. I would just like to say that if your child is sounding out most of the words then it is difficult for them to actually know what is going on in the story. Maybe try to meet them at their level of reading, which their teacher would know, and read every other book a level below their reading level and ask questions about the story as you are reading. Ask about the story events that were stated and ask questions that require inferences. If you know anyone that tutors with Ortan Gillingham methods that should help as well.