The drift higher continues as the Dow gained 39 points on light volume. The advance/declines were positive. The summation index has turned around and is now moving up. I went ahead and adjusted my order for the SPY September puts and it was filled. It is showing a slight loss. Short term overbought on some of the technical indicators for the S&P. I'm not exactly sure this trade will work since the market can stay overbought for extended periods of time. The S&P 500 also set a new all time high today and there is no overhead resistance. But I did feel like taking the chance here ahead of the Jackson Hole virtual gab fest and some inflation data due out on Friday. The light volume on this move higher is not a positive in my mind as well. I plan on holding this position for a while unless we get a blow off to the upside from here. Gold fell eight bucks on the futures. Interest rates rose again and the US dollar was just a touch lower. The XAU lost 2 1/8, while GDX shed 3/8. Volume was average. I still have the open order out there for the GDX October calls although I am thinking about canceling it. It is looking more like Mondays positive price action was a dead cat bounce. Mentally I'm feeling OK. The VIX was lower today and that fits with the rise in stocks. Not completely oversold on the indicators here, so the market has the potential to just keep going up. Of course that would ruin the SPY put trade that I just entered but you have to be aware of all the possible scenarios. So the trade is on and we'll see where it goes from here. Europe and Asia finished mixed. We'll see what tomorrow brings.