Once again, the market takes a little tumble, but then it rockets back higher. The "buy the dip" game is still working like a charm. SPX tacked on $25, closing at $2086 and RUT followed suit with a $17 gain, putting that small cap index at $1258. Volatility contracted a bit more with the VIX closing at 14.5%, down six tenths of a point. Trading volume was pretty flat with 1.9 billion shares of the S&P 500 stocks trading. Trading volume contracted 3% on the NYSE, but rose 5% on NASDAQ.

SPX gapped open this morning and never looked back. RUT gapped open even more strongly, so small caps are again leading the way - a bullish sign.

Pending home sales surprised analysts with a 3.1% gain in February, up from a positive 1.2% gain in January. Tomorrow brings the Chicago PMI report.

On Friday I closed my April iron condor position on RUT at 1110/1120 and 1310/1320 for a debit of $0.38, resulting in a net gain of $108 per contract or +12.6%. This brings our year to date gains for the Flying With The Condor™ service to +11.2%.