The S&P once again finds itself range bound. Late last year it was a 30 point range that frustrated most market participants, between 1085 and 1115. Today it's a 20 point range, between 1130 and 1150.

The market tried to break the lower boundary today, but there just wasn't enough sellers to get the job done. So the technical buyers came in looking for another profitable trip back towards 1150, and it appears they may get it.

So the light volume gyrations continue, and the trend is still up....for now. But that could change very soon. So be alert.

The dollar is showing strength, which is what I've been looking for. It closed above it's 200 day ema for the first time since May 2009. We're about to find out if dollar strength is going to translate into stock weakness. It certainly helped hammer gold and silver today. A trip back to the 200 day for the metals could actually be a welcome rest after the blistering run they've seen.

I personally feel like, regardless of how far the metals correct, much, much higher prices are in their future as long as the "Keynesian's" are in charge at the Central Bank. And just know that they are currently in charge.

The election of Scott Brown yesterday in Massachusetts will change the political landscape as self serving politicians scramble to save their own hide. This will bring the Obama administration back to the center and lead to more market friendly legislation than might otherwise have developed. Will it matter? Probably not that much.  But it might boost the sales of pickup trucks. Don't laugh, I drive one!