Not much going on today as the Dow gained 24 points on light volume. The advance/declines were positive. The summation index is heading higher grudgingly. There really isn't much to say about todays price action. In my mind the trend is still up and I'd like to get some SPY July calls if we see a pullback. The short term indicators are overbought for the major stock indices but that doesn't mean that they can't stay that way. Greece has yet to resolve itself but that is supposed to happen soon. Perhaps we'll get a sell the news event. That's a guess as usual. GE was up 1/8 and the volume was summer average. It doesn't look like I'll get a chance at the July calls here but we'll see. Gold was off $7 on the futures as the US dollar gained a full point today. Both the XAU and GDX barely moved today on light volume. The gold shares are oversold and on the verge of breaking medium term support on the weekly charts. A breakdown will probably take the October gold share call trade off the table. But it hasn't happened yet. Gold is still above the $1150 level, which I feel is the key support at this point. However the fundamental picture for gold here is negative in my opinion. I'll keep an eye on developments going forward. Mentally I'm feeling OK. Although we are in an overbought market environment, I'm still leaning bullish and I'd still like to own some SPY calls. I do believe that we will break out to new all time highs on the S&P 500 during the July option cycle. I'm remaining patient for the gold share trade at this time. We watch the foreign markets overnight and see the reaction to the final GDP number tomorrow.