This is a dicey market, and not for the timid. I have been watching the area of $1900 on SPX for its ultimate support; those are the highs from early April and mid-May. Yesterday's market appeared to be heading to challenge that support level, closing at $1910. SPX opened this morning and traded weakly sideways and gradually strengthened through the morning and really took off around 1 pm ET, running upward into the close and closing at $1932, up $22, only a few cents off the high for the day. RUT also traded higher, closing at $1131, up $12. Volatility pulled back a bit with the VIX dropping almost a full point to 15.8%.

Trading volume dropped off today with 1.8 billion shares of the S&P 500 stocks trading. Trading volume declined 6% on the NYSE and 5% on NASDAQ.

There wasn't any significant economic data released today to drive the market. Most of this week's price action was generated by global events in the Middle East and the Ukraine. The lack of predictability or even rationale for those events makes the market even more dangerous than usual.

Well, the weekend is here and I have a long list of chores around the house. It will help me relax and forget the market for a couple of days. Enjoy your weekend.