This is a market that seems to just be waiting around for next year. The Dow fell 95 points on light volume. The advance/declines were slightly negative. The summation index is now tracking sideways. The S&P 500 is still short term overbought. We'll get through tomorrow and take it from there. Gold was up $15 on the futures. The US dollar was higher and interest rates finished little changed. The XAU was up 2 3/4 and GDX added a point. Volume was on the light side. The short term indicators for GDX are beginning to move sideways. The up trend line for GDX comes in at the 80 level. Mentally I'm feeling OK. The VIX was up a touch today and remains short term oversold. Not sure what's next for the VIX but it is at a very low level which would imply more stock gains if it can stay down here. 2025 is coming to a close and it was a losing trading year for me, which was the first since 2021. I'll try and do better in the coming year. It was also a year with very few trades. There were ideas that just missed and some that were simply wrong. It reinforces the fact that the trading is never easy. Asia was generally lower and Europe higher overnight. We'll close out this years trading tomorrow.

Some modest selling to begin another holiday week as the Dow fell 249 points on light volume. The advance/declines were negative. The summation index is still moving higher but not with conviction. Our short term sell signal was valid but we don't know how long it will last and to what extent. The short term indicators for the S&P 500 are still overbought but they have rolled over. We are hoping things turn back up short term as our next idea is to fade whatever rally we see on the first trading day of next year. But markets rarely, if ever cooperate. Gold got absolutely clobbered as the futures fell $196. The US dollar finished unchanged and interest rates dipped. The XAU lost 18 7/8, while GDX slid 5 3/8. Volume was heavy to the downside. The short term indicators for GDX have turned down. The precious metals are overdue for some kind of longer rest but selling has always been met with buying lately. GDX did drop around 20% in October but went right back to new all time highs as of last Friday. Mentally I'm feeling tired. The VIX was up today which fits a down market. It remains short term oversold. Asia was lower and Europe little changed to begin the week. Many players remain away form their desks as markets will be closed Thursday for New Years day. I'll keep an eye on the overnight developments.

Hanging around on a holiday Friday. The Dow fell 20 points on pretty light volume. The advance/declines were slightly negative. The summation index is still trending to the upside. The NASDAQ and S&P 500 had minor losses. Overbought short term technical conditions have not changed. Gold continues to shine as the futures gained $59. The US dollar finished flat and so did interest rates for the most part. The XAU was up about 5 1/4, while GDX added around 1 1/2. Volume was a bit above average. GDX continues to be overbought and continues to hit new all time highs. Mentally I'm feeling a bit tired. The VIX was slightly to the upside today. Oversold and staying that way. We still have a short term sell signal on one of our indicators. I'll be checking the charts over the weekend to see if it is worth trying that signal or waiting until the new year. Asia was generally higher and Europe mixed to close the week. It's Friday afternoon and time for a rest.

A half day of trading led by the Dow as it gained 288 points on extremely light volume. The advance/declines were better than 2 to 1 positive. The summation index is still trying to move higher. The S&P 500 set another new all time high. It has made it through the overhead resistance albeit on light volume. It remains short term overbought but there is nothing in the way of higher prices. We do have a short term sell signal now on one of our indicators. I am looking at the SPY January puts. Gold finished flat on the day as did the US dollar. Interest rates dipped. The XAU lost 2 1/2 and GDX shed 3/4. Volume was light and GDX is still overbought. Mentally I'm feeling OK. The VIX continues lower and is short term oversold. The rally seems to be for real when we assumed that a bottom was put in a week ago. We'll see how it plays out going forward. Europe and Asia were mixed as holiday mode is in order. Merry Christmas everyone.

Drifting higher as the Dow gained 79 points on light volume. The advance/declines were negative. The summation index is slowly moving up. The NASDAQ barely led things higher. It's a holiday week and players are away from their desks. The S&P 500 closed at a new all time high. The short term indicators there are moving up or already overbought. Just a half day of trading tomorrow. We are on the sidelines with regards to the SPY options for now. Gold was up over fifty bucks on the futures to close above the $4500 level. The US dollar was lower and rates finished mixed. The XAU was up over 1 3/4 and GDX finished flat. Volume was light. GDX remains short term overbought. The gold shares did not follow gold higher today. Mentally I'm feeling OK. The VIX was a bit lower and closed below 14. It continues to be short term oversold. We should have continued light trading for what's left of this week as many will be taking Friday off. Europe and Asia were generally higher overnight. We'll continue to keep an eye on things going forward.

Holiday mode in the market for now as the Dow rose 227 points on good volume. The advance/declines were positive. The summation index is trying to move higher. The S&P led things higher today. We did get a signal from the McClellan oscillator on Friday for a big move within the next two sessions. Not sure if today qualifies so we'll see how things go tomorrow. It really looks like the S&P is just going to push on to new all time highs again this week but you never know for sure in this game. The short term indicators are moving higher and some have room to go. The weekly S&P 500 chart is overbought. The lagging NASDAQ is a concern. But we are in a seasonal positive period for stocks. Gold jumped $90 to a new all time high on the futures as it closes in on $4500. The US dollar was lower and interest rates were up a bit. The XAU climbed 10 3/4, while GDX was up 3 points. Volume was a bit above average. GDX is short term overbought and staying that way. Mentally I'm feeling OK. The VIX was lower today and is almost at 14. The low reading for the VIX suggests that the market rally will continue. The short term indicators here are oversold or almost there. We are patiently waiting for the next decent techncial signal for the next option trade. Asia was higher and Europe lower to begin the week. We'll see how things go tomorrow.

Closing out the week on a positive note as the Dow rose 183 points on expiration heavy volume. The advance/declines were slightly positive. The summation index is tracking sideways. The NASDAQ continues to lead the way here and that is a plus for the bulls. The S&P 500 posted another good gain. The short term indicators on the S&P have turned up. I'm inclined to believe that we've put in some type of at least a short term bottom here. Stocks are moving into a positive seasonal period with the Christmas holiday week coming up. At this point we are looking at the beginning of next year to trade the options again. But we'll see how things shape up. Gold was up six bucks on the futures. The US dollar was higher along with interest rates. The XAU soared 9 3/8, while GDX was up by 2 1/8. Volume was slightly above average. The short term indicators for GDX are getting back to overbought but not completely there yet. The gold shares followed the overall stock market today. Mentally I'm feeling a bit tired. The VIX was lower today and its short term indicators are turning down. Some have already reached oversold territory. I'm still not sure what's next for this indicator. I'll be checking the charts as usual over the weekend but am prepared to stay on the sidelines next week as we roll into the January option cycle. Asia and Europe finished higher to close out the week. It's Friday afternoon and time for a break.