Most indexes have pushed up to their respective Fibonacci retracements. This doesn't mean they wont' muscle their way higher to the next level up; it's just an important resistance level to watch.

The NASDAQ is strong enough to actually be above its retracement, so there may be more upside here. I have been participating in the market's strength via my longs, which are very energy- and metals- and ag-oriented (a good example is SSRI, which is up 75% from my purchase a few days ago), but I haven't enjoyed any gains from general index strength. On the contrary, I bought some "beginning" positions in QID and SDS today.

I'll do a write-up later tonight, but only after I've had a chance to read the bazillion comments that I've missed so far.

Need to fill your heart with some joy? Play this music in the background.

First off, I have had zero time (as usual) to read comments, but I happened to notice 2sweeties called for a top on the @ES0812 at 1006, and today's high was 1005.50 – – 2sweeties, you are amazing!
Second, values have pushed high enough that I am comfortable buying puts again. Here's a sampling of what I am buying right now:

AZO
BA
CL
CNI
CNQ
COH
CVX
DO
HPQ
LH
MMM
MON
NKE
POT
QQQQ
TGT
UNP
UPS
VZ
WYNN
XOM

Among my long positions, there are a few I'm intending to hold for a while. How long "a while" is depends on how they do, of course, but I have no plans to sell any of these unless they are stopped out. They are somewhat speculative, but I like their price and volume action.

Some of the stocks I bought last week are up thirty to forty percent. Some of them are "keepers", but some were simply opportunistic. AEM is an example of the latter.

Interpreting gaps is a weak area for me, but my inclination is to sell at this point, given that the gap has indeed been filled. I suppose the stock might have more upside, but given my belief that stocks will start selling off hard around Thursday, I'd rather be safe than sorry.