The market dips are occurring so fast that it is hard to buy the dip; if you blinked, you missed this buying opportunity. After opening Friday at $2103, and giving up $24, SPX opened higher this morning and nearly made it all back, closing up $19 at $2100. RUT bounced back by $13 to $1265. The VIX declined about six tenths of a point to 13.3%. Trading volume changes today don't mean much because Friday was options expiration and therefore was a high trading volume day.

No significant economic news was released today; in fact, there won't be much economic data all week. The big news this week will be earnings announcements. Whether those announcements start to form a pattern that moves the market is the question. Many analysts were bearish about this earnings season, but that doesn't appear to be materializing so far; but the week is young.

I closed my RUT May 1330/1340 call spreads today for $0.17. Our May position stands at a gain of 16% and the June iron condor on RUT is now up 11%.