Last weeks decline is now a distant memory as the Dow climbed 237 points on what appears to be incredibly heavy volume. The advance/declines were positive. The summation index is still trying to turn back up. The Dow was the leader today, with the NASDAQ posting a small decline. The S&P 500 set a new all time high. It remains short term overbought but that doesn't mean that we won't go higher. There still seems to be plenty of liquidity to go around. A rise in interest rates today was ignored by stocks. It's summer rally mode for now. GE was flat on the session and volume was very light. Gold was up around $5 on the futures. Interest rates ended the day higher and the US dollar finished little changed. The XAU lost 1 1/4, while GDX shed 1/8. Volume remains light. Thre's no positive interest in gold or the gold shares at the moment. Mentally I'm feeling OK. The VIX was lower today and remains short term oversold. We've had a light volume rally for stocks this week until today and the breadth hasn't been anything to write home about. Volume almsot doubled after the bell, so something was going on there. The weekly candlestick chart for the S&P 500 looks bullish and there is no overhead resistance. I'm still considering the SPY July puts but not exactly sure when to pull the trigger on that idea. The money flows into stocks should continue next week with the beginning of the month of July. We'll get the employment report on Friday but it's ahead of a long holiday weekend. There's also the possibility in my mind that the summer rally will continue into the July option expiration. So there will be plenty to think about along with going over the charts this weekend. Europe and Asia were higher overnight. It's Friday afternoon and time for a break.