We closed the week on a positive note as the Dow gained 102 points on light volume. Advance/declines were 3 to 1 positive. We got the results from Europe's "stress" tests of their banks. The only stress it caused was if you were short the market. I'll stick to the technicals. We're short term overbought but that doesn't mean that we can't stay there. Summation index still heading higher. GE increased its dividend and went higher which could be a precursor for the overall market. Perhaps playing this summer rally was the thing to do. I'm still going to wait and get short eventually. Gold fell $7 but the XAU rose a point. ABX, GG and NEM all had slight fractional moves to the upside on light volume. I adjusted down my August ABX call order but I'm thinking I may just cancel it. We are midway between overbought and oversold. There is no buy signal from the Gold/XAU ratio. The volume has been anemic lately. Earnings are due next week for the gold shares. That should be a catalyst but who knows? Again, I'll have to sort things out over the weekend. I think the July gold futures contract expires next week as well. Mentally I'm feeling good. We're right at the 1100 level on the S&P 500 and it looks like we could break through. That would propel us higher. The light volume would work in my favor for the case of shorting this market sometime next month. So we'll see. Gold isn't doing much and neither are the gold shares. That could change but I'm really going to have to consider passing on that ABX trade as well. Things to ponder. But right now it's Friday afternoon in the summertime. Time for a rest.