The markets traded down a bit this morning in spite of good retail sales data, but then recovered to close very close to the closes of the past 4 days.SPX closed unchanged at $1634 and RUT lost $1 to close at $974. VIX was unchanged at 12.6%. Trading volume fell off with 2.0 billion shares of the S&P 500. Volume on the NYSE was down 7% and trading volume in the NASDAQ was down 5%.

So all indicators remain rather positive and this will be a light economic data week, so a continuation of the bullish trend seems most likely. The CPI and PPI data later this week could possibly bring more debate about the Fed's policy and inflation, but there are no signs that the price data are likely to spike upward.

My Jun iron condor on RUT stands at a net P/L of -$2,160 with delta = -$15 and theta = +$52. The July hedges remain in place.