Once again stocks sold off early and came back for the rest of the day for upside reversals. The Dow was the laggard though as it dropped 120 points on light volume. The advance/declines were negative. The summation index continues lower. Both the NASDAQ and S&P 500 set new all time highs again. The NASDAQ has been the leader and that is a plus. The market just feels like it wants to go higher here. The S&P 500 is still short term overbought. Yes I'm thinking about the SPY June puts if we move up early tomorrow but it isn't a completely solid technical idea. I may just sit things out but we'll see. Inflation plus the Fed could make for a volatile session. Gold was up five bucks on the futres. The US dollar was a bit higher and interest rates dipped. The XAU lost 1 1/2, while GDX shed 1/4. Volume was pretty light. I did consider the GDX June calls again today in case the inflation data comes in weak. GDX is also short term oversold. GDX also made it down to the buy zone on one of our timing models. But I stayed out considering I just had a losing trade here. Plus the medium term picture for the gold shares looks like it still has work to do to the downside according to the indicators there. Mentally I'm feeling OK. The VIX was up again today which doesn't fit with an overall positive day for stocks. The short term indicators are beginning to drift sideways. Not getting any good ideas on which way to go right now from the VIX. Light volume today as it was a waiting day for the most part. Wednesday should be a different story. Europe and Asia were lower overnight. We'll see what tomorrrow brings.