Just another summer day as the Dow gained 104 points on light volume. The advance/declines were slightly negative. The summation index is trending lower. New all time highs for the S&P 500 as it remains overbought on the short and medium term indicators. Nothing's changed as we still look for higher prices heading into next weeks July option expiration. We'll see how things go after that. GE was up a few cents on lighter volume. Gold was up $7 on the August futures contract. The US dollar was a bit higher and interest rates continue to fall. The XAU and GDX finished little changed on light volume. There's still no interest in the gold shares. Mentally I'm feeling OK. The VIX finished off of its highs again today and was slightly lower. Still below the 50 day moving average here and that is a positive for stocks going forward. I get the feeling we will drift higher for the next week or so and then reassess the situation. The market has tried to sell off for a couple of days now without success so it looks like higher prices are coming despite the continued overbought technical conditions. Not exactly the summar doldrums but there probabaly won't be any big moves one way or the other soon. That's my best guess at the moment. Asia was lower and Europe higher in last nights trade. We'll see what tomorrow brings.