A bounce back today but we did finish well off of the highs for the session. The Dow gained 247 points on light volume. The advance/declines were 3 to 1 positive. The summation index is moving up. The inflation data came in where expected. The Dow reached a new intra-day high. The S&P 500 remains short term overbought. I'm not sure if this is the top for the rally that began at the end of April. I expect the market to drift higher into option expiration next week but I could be wrong. No SPY trades in mind at the moment. Gold was off $4 on the futures. The US dollar was lower and interest rates were slightly down. The XAU and GDX had slight fractional gains on light volume. I'm still positive on the gold shares. If we see some selling next week I may try a short term trade for GDX or go out to the August option cycle there. Mentally I'm feeling OK. The VIX was lower today and that fits an up market. The short term indicators here are starting to move lower with room to go. The VIX implies higher stock prices in the near term. We'll continue to go over all the charts this mid-summer weekend. Europe and Asia were higher to close out the week with the exception of Japan. It's Friday afternoon and time for a break.