Continuing higher as the Dow gained 286 points on light volume. The advance/declines were better than 2 to 1 positive. The summation index is still moving lower. Earnings are driving things higher for now as Monday seems like it's far in the past. The short term technical indicators for the S&P 500 have turned around. I'm still not convinced that we will simply move on to new all time highs here but I could be wrong. I'm hoping that we'll build some kind of top here in the next few days that will give us a chance to purchase the SPY August puts. Remaining patient for now. GE was up over 1/3 on better than average volume. It's made up over a buck in the past two sessions. Gold fell five bucks on the August contract. The US dollar was slightly lower today and interest rates continued to move higher. The XAU gained 2 2/3, while GDX was up 1/3. Volume was light. The gold shares outperformed gold for a change and we haven't seen that in a while. Mentally I'm feeling OK. The VIX was lower again and closed below its 50 day moving average. Back below 20 now on the VIX with the short term indicators pointing lower. The VIX is implying that the bounce has more to go. That is entirely possible but I will still wait to see if the summation index actually turns around. Hasn't happened yet. However I will admit that there still seems to be plenty of money to go around with the continued easy Fed policy. Europe and Asia gained ground overnight. We'll keep an eye on tonights developments.