The markets appeared to have all of their uncertainties erased by Apple's stellar earnings announcement - I know that doesn't make sense, but it is hard to explain this market's ups and downs. One day it appears bullish; the next day it appears the world is ending. Today was strongly bullish - what will tomorrow bring? SPX gained $19 to close at $1391 and RUT closed at $812, up $14. SPX is sitting right at resistance; tomorrow's opening will be interesting to watch. Cautiously bullish is still the best description for this market.

Trading volume popped up a bit today with 2.9 billion shares of the S&P 500 stocks trading; trading volume was up 7% on the NYSE and was up 2% on NASDAQ. The VIX dropped significantly today, closing at 16.8%. That's a good sign for the bulls.

My May iron condor on RUT stands at a P/L of +$620 with delta = +$25 and theta = +$87. With 22 days left to expiration, we are in pretty good shape.