Moving higher post expiration as the Dow gained 186 points on light volume. The advance/declines were 2 to 1 positive. The summation index is turning back up. The NASDAQ led the way higher and that's a plus for the bulls. It appears that the S&P 500 is now headed for new all time highs. The short term indicators there have turned back up. We did have some last hour selling but higher prices look like they are in the near future. A caveat would be the light volume as we don't trust light volume rallies. But we'll see how things go from here. GE was off a nickel on very light volume. The Bollinger bands here are getting as about as narrow as they can. That implies a big move is not far off. Gold was up half a dozen on the August contract, while the US dollar was slightly lower. Interest rates dropped as well. The XAU and GDX had fractional gains on very light volume. I'm still interested in the GDX June calls if we ever see a pullback. Mentally I'm feeling OK. The VIX dropped today and is now below the 20 level and beneath its 50 day moving average. This implies that higher stock prices are on the way. Not yet completely oversold here as well, so it appears the path of least resistance is higher for equity prices going forward. Now that could all change in a hurry but I doubt it at the moment. We had a sideways sell off and now it looks like stocks are ready to advance. The SPY option premiums are pricey though as we've just moved into the June option cycle. On the sidelines there for now. Europe and Asia were higher to begin the week. We'll see how it goes tomorrow.