A pre-holiday rally as the Dow gained 162 points on light volume. The advance/declines were 2 to 1 positive. The summation index is still trying to trend sideways. The NASDAQ was the leader once again and that is a plus for the bulls. A half day of trading tomorrow and not Friday as I stated yesterday. Should be quiet and to the upside. New all time closing highs for both the NASDAQ and S&P 500. The S&P remains short term overbought. Today it bounced off of an up trend line that began back in the beginning of May. Perhaps this is the beginning of the famed summer rally. Gold finished flat. The US dollar was lower along with interest rates. The XAU was up a point and GDX rose 1/8. Volume remains light. Mentally I'm feeling OK. The VIX was lower today and closed at the 12 level. Still short term oversold here. Just waiting on Fridays employment report at this juncture. Not sure how it will be treated with so many players at the beach. However this is how things go in the summer. Asia was generally higher and Europe down overnight. Should be a lightly traded non-event for the US markets tomorrow.