Kind of a mixed bag today but the Dow had a nice gain of 197 points on average volume.  The advance/declines were negative.  The summation index has started to trend lower.  The overall market was not as strong as the Dow, with the NASDAQ in the red.  The TRAN and the RUT were negative as well.  I'm still considering the SPY August puts at some point but would like to see some more upside towards 2850 on the S&P first.  Earnings are coming in good but we are not seeing a broad rally.  The big cap stock indices remain short term overbought.  The indicators for RUT have rolled over and RUT is usually a market leader.  I'd be cautious on the long side here.  GE was up 1/8 on lighter volume.  Gold finished little changed as did the US dollar.  The XAU and GDX had fractional gains on OK volume.  My GDX September calls are in the red.  Mentally I'm feeling OK.  The day started out strong on the back of GOOG earnings but then drifted lower for much of the session.  There were no headlines out of Washington today.  We all know that won't last.  More earnings on the way and then the first look at second quarter GDP on Friday.  The VIX remains low so I'll be in a wait and see mode for now.  The atmosphere has a summer feel to it.  Not quite the doldrums but certainly a slow motion to things at the moment.  Europe and Asia rallied in last nights trading action.  We'll keep an eye on the overnight developments.