Another day another new all time high as the Dow added 243 points on light volume.  the advance/declines were almost 2 to 1 positive.  The summation index is moving up.  No overhead resistance for stocks so we'll see how high this can go.  I'm expecting more upside into the expiration next week.  The summer rally is in full force.  GE was up 1/4 on light volume.  Gold added nine bucks and the US dollar was lower.  The XAU and GDX had fractional gains again but the volume was lower.  I'm still in favor of the longer term calls here but it doesn't look like the market will give us a chance to purchase.  I'll remain patient for now but this looks like a trade that won't happen.  Mentally I'm feeling OK.  I had a lot to deal with this week and you cannot effectively trade when you've got outside things going on.  There is no shame in stepping aside for a while to gather yourself.  The market won't wait for you but there will always be opportunities down the road.  We know where things stand at the moment with regards to stocks.  Overbought, staying that way, new all time highs on a daily basis with options expiration week coming up.  The Fed is ready to provide more liquidity at the end of the month even if it isn't necessary.  There is nothing in the way of higher prices.  The US/China issues are on the back burner for now.  The only potential negative that I see is on the longer term weekly chart for the S&P.  There could be a megaphone pattern being formed but if we continue higher from here that will be negated.  Not much else to report here in the middle of July.  Europe and Asia were mixed overnight.  The weekend is upon us and I'll be checking the charts for the next trade.  But I'll also have to get some more rest after the week I've had.