The bulls continued the strong push that began yesterday and tacked on $25 on SPX to close at $2105. RUT gained $17 to close at $1267. And the VIX pulled back a full point, closing at 13.5%. Trading volume was up with 2.0 billion shares of the S&P 500 stocks trading today. But to be fair, that only pushed volume back up to the 50 dma. Trading volume rose 6% on the NYSE and increased 1% on NASDAQ.

RUT's close is near the highs around $1268 back in late March and within striking distance of the all-time high at $1275. SPX is digging itself out of a deeper hole, having just managed today to break above its 50 dma at $2102.

There wasn't much in economic data reported today. We get unemployment claims and retail sales tomorrow.

The talking heads gave credit for today's bullish market to the prospects of a compromise on Greek debt, but this run started yesterday. Look back at the SPX chart for several months and note the candlesticks with long lower shadows. Many times they signal a bullish move. That was what prompted my bullish trade on AAPL yesterday for our trading group. That position is up 10% after just one day - a nice way to start the trade.