Today's trading repeated a common pattern of late: every dip in the market appears to be seen as a buying opportunity for the bulls. RUT and SPX both set new 52 week highs today. RUT traded down a little this morning and then slowly rose in the afternoon and spurted to the finish in the last half hour of trading. RUT closed up over $7 at $690. SPX traded in a similar pattern and closed at $1174, up over $8. The late afternoon surge appeared to be triggered by a weakening in the dollar as the euro rebounded. The weak trade in the morning may have reflected the drop in existing home sales from January to February and a drop in the FHFA Home Price Index of 0.6% - not great news of recovery, but no severe contraction either. But even in the face of that data, the market didn't trade down much; RUT dropped less than $2 after the announcement. All in all, the market appears to be firmly on a bullish trend. Trading volume on the NYSE and NASDAQ were flat while the S&P 500 continued to trade below its 50 day moving average.

At this rate, I may have to adjust my April condor again, or just close the call spread side of the position. The $720 calls are now at a delta of 13. I'm certainly in no hurry to establish my May condor in the midst of this strong trend.