Heading higher now as the Dow gained 328 points on light volume. The advance/declines were better than 2 to 1 positive. The summation index is still moving lower which is puzzling considering the markets have been moving up. Not sure what that means but if the summation index can start heading back up we could see quite a rally. The zero line is still in view. The NASDAQ continues to be the leader and that's a plus. Another plus for the bulls was the fact that the inflation data came out a bit hot today and the market ignored it. Perhaps my idea of the market selling off on the debt limit deal is wrong. We'll know soon enough. The short term indicators for the S&P 500 are turning back up. It is back above the 4200 level. Maybe stocks are just going to run up into the June option expiration but we'll have to wait and see. No SPY trades in mind for now. Gold was up a few bucks on the futures. The US dollar finished flat and interest rates were mixed. The XAU and GDX had slight fractional gains on light volume. My GDX June calls are still losers and unless the gold shares get going to the upside next week I'm going to have to exit this trade with a loss. Haven't seen the bounce here that was expected given the technical data. A long weekend on tap to be holding onto this one. Mentally I'm feeling OK. The VIX was down today and is now below its 50 day moving average. The short term indicators here have turned back down. If the VIX continues lower, stocks should continue higher next week. Just waiting on Washington for now as the supposed June 1st deadline looms. Maybe they'll be an announcement over the holiday weekend. We'll go over the charts and try and come up with a game plan for next week. Europe closed higher and Asia as well with the exception of Hong Kong. It's Friday afternoon and time for a break.