Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Incomplete Picture

|Includes: ProShares Ultra Oil & Gas ETF (DIG), QQQ, SLV, SMH, UWM, VXX, XLE, XRT

Hard to gauge where the market is headed, earnings so far have been good, just not enough to get a "bigger" picture.

On the economic side, the data is still not overly positive and everyone is scratching their heads.

Technically, our first attempt at breaking through resistance failed, and other indicators show that the S&P is around 90%.

Basically not a lot to do other than wait for more earnings news and option expiration tomorrow.

Oh, and did I mention volumes being light, again...!

Trades I made today:
 
1) Covered SMH shorts from two days ago,
2) Sold DIG August $24 puts.
3) Sold SLV August $18 covered calls.

Disclosure: Long DIG SLV VXX Short QQQQ XLE SMH XRT UWM