The Dow soared 197 points today on light volume.  The advance/declines were better than 2 to 1 positive.  The summation index is moving higher.  The inflation data was mild and the market was up from the start.  My SPY May puts are already dead but I'll wait to sell them most likely tomorrow.  We've broken through the down trend line resistance on the S&P, so the trend is now up.  The VIX now has a 13 handle and the previous sell signals at the 15 level have been negated.  Of course it's just another trading mistake for me again and I've had a lot of them so far this year.  The RUT is about to hit a new all time high.  We'll take out cues from there going forward.  GE gained a few cents and the volume was light.  Gold gained $8 on the futures as the US dollar dropped.  The XAU rose 1 3/8, while GDX added 1/3.  Volume was average.  Mentally I'm feeling OK.  It looks like clear sailing for stocks in the near term.  We are short term overbought but still rallying and that is a positive sign.  The big cap indices are far from all time highs.  However the small caps are leading the way here and if we do see new all time highs there it should bode well for the overall market.  That said I'm not going to abandon my theory of the bull market being completed just yet.  Things can and sometimes do turn on a dime.  It won't be enough to save the SPY May put trade with only six days left in the cycle.  But I won't count out lower prices again at some point this year.  Europe and Asia were both generally higher in last nights trade.  We'll close out the week tomorrow.