The Dow was lower again today as it shed 42 points on light volume.  The advance/declines were positive.  The summation index continues sideways.  The NASDAQ and the S&P 500 were both positive again.  The relative strength remains with the small caps and as long as that is the case you cannot be too bearish on the near term market outlook.  RUT set another new all time high today.  I did place an open order for some SPY July calls overnight but it wasn't filled.  I'm leaving it out there.  However it might be too late for this idea s the ideal buy time may have passed.  GE fell a few cents on pretty good volume.  GE is being kicked out of the Dow.  There's no love for GE.  Gold dropped $7 on the futures and the US dollar ended the day little changed.  Gold has fallen below the $1280 level.  No love for gold either.  But I am still considering the longer term gold share calls on a drop to the 200 week moving average.  Mentally I'm feeling OK.  The Dow had now dropped for 7 straight days.  We haven't seen that type of price action for a while.  Yet the overall market remains strong.  The VIX had a one day spike and now we're back below the 13 level.  I really think that the market wants to move higher here but the short term technical indicators do remain overbought.  I'll leave in the order for the SPY July calls for another day and take it from there.  Asia was mixed and Europe generally higher in last nights trade.  We'll see what tomorrow brings.