The bounce from last Wednesdays debacle continues as the Dow gained 90 points on light volume.  The advance/declines were 2 to 1 positive.  This should turn the summation index back up.  The overall market was stronger than the Dow and that's a plus.  The small stocks acted better too.  I looked for some ideas all weekend but came up empty.  I'm waiting for the next technical signal now and will trade it either way.  If we approach the resistance again on light volume, I'll look towards the SPY June puts.  If we pull back from here and get oversold, I'll try the SPY June calls.  Patience is the idea for now and it isn't a bad one since we just rolled into the June option cycle.  GE was up 1/8 and the volume was light.  Gold rose six bucks on the futures as the US dollar was lower.  The XAU gained a point and GDX added 1/3.  Volume was light.  I'm also considering some gold share calls in the coming weeks but with the expiration in the fall.  Septembers or Octobers are what I'm looking at if they get oversold in the coming weeks.  Just a thought for now.  Mentally I'm feeling OK.  Volume continues to lighten as we move higher and that is not a positive.  However the price action since the huge one day drop is.  Perhaps if we back off from here and retest the low it will give me a chance to get some SPY June calls.  But even that scenario could go wrong if we don't get oversold as well.  I will say that we've had plenty of chances to break out higher through the overhead resistance and continue to fail.  That's not a good sign.  A breakout with volume will be the clue to buy some SPY calls because there won't be any overhead resistance.  But we haven't been able to get there yet.  Asia was higher and Europe generally lower in last nights trade.  We'll keep an eye on the overnight developments.