It is simply up, up and away for stocks as the Dow gained 60 points on light volume.  The advance/declines were positive.  The summation index is moving up.  The overall market was much stronger than the Dow.  There is no overhead resistance.  The small stocks are leading the way.  It is about as bullish as it gets.  I'm about to be stopped out of my SPY September puts.  Technically short term overbought and staying that way.  The VIX remains in the 12's.  GE was up almost 1/4 on light volume.  Gold and the US dollar were slightly lower.  The XAU and GDX had slight fractional gains on light volume.  The gold shares continue to disappoint.  Mentally I'm feeling OK.  There are no sellers.  We've broken out to the upside in the S&P 500 and despite the light volume we continue to advance.  My original theory of a five wave pattern being completed here was wrong.  Hence the many losses that I've taken on the way back up.  It's basically back to the drawing board now for me.  Most likely when I'm stopped out of the current trade I'll be heading for the sidelines for a while to regroup.  There's been too many losses without a winning trade for months.  It's time to step back and reassess what's going on here.  Of the major stock averages only the Dow and the NYA haven't hit new all time highs.  That should occur for both in the coming weeks.  The usual negative seasonal factor for the stock market is not showing up.  Kind of like the bullish seasonal for gold that didn't materialize.  However you've got to keep moving on in the game.  Europe and Asia were mixed overnight.  We'll keep an eye on the nighttime developments.