A day of hanging around as the Dow rose 25 points on very light volume. The advance/declines were 2 to 1 negative. The summation index continues lower. The bounce appears to be running out of steam. Sideways from here for a couple of days would set us up to try the SPY August puts. However the premiums on the options are still rather high. The short term technical indicators for the S&P 500 are not completely overbought just yet. At this point I'll wait until next week before deciding what to do. GE lost over 1/3 on light volume. Gold added four bucks on the futures. Interest rates ticked lower while the US dollar was slightly higher. The XAU lost over a point, while GDX shed twenty cents. Volume was light. The gold shares are going sideways as they remain short term oversold. Mentally I'm feeling OK. The VIX was down slightly as we wait to see what happens there. I still would find it hard to believe that we're heading to new all time highs again but the NASDAQ has been leading the way back up so I suppose anything's possible. We'll see how the week closes out. Europe and Asia were generally higher. On to Friday.