Starting the week on a positive note as the Dow gained 213 points on light volume. The advance/declines were around 3 to 1 positive. The summation index may finally be starting to try and turn around. The NASDAQ led the way higher. That's two plus days in a row for the S&P but that bearish engulfing candlestick still looms. Perhaps that pattern will fail but we are still below the 50 day moving average on the S&P 500. The short term indicators there are now mid-range or getting there. No SPY trades in mind at the moment. Gold was up $8 on the futures. The US dollar was a bit lower along with interest rates. The XAU rose 2 3/4, while GDX was up over 1/2. Volume was light. It appears that we've missed this move higher in the gold shares. They are outperforming the metal itself and that is bullish. I did place an open order for the GDX October calls but it won't get filled unless we see a pullback. We'll certainly hope for the best but it appears that the train has already left the station for this idea. Mentally I'm feeling OK. The VIX was lower today and that fits with a positive stock market. Getting to short term oversold here but not completely there yet. The VIX is still above its 50 day moving average. Plenty of economic data for the market to sift through this week with inflation news on Thursday and the jobs report on Friday as the headliners. Not sure what to expect but there will be plenty of excuses for the markets to move. Volume remains light as we trade the last week in August. As I've said not everybody will be at their desks with the final summer flings taking place before the Labor day weekend. We will remain looking for the next trading signal. Europe and Asia were higher to begin the week as well. We'll keep an eye on tonights headlines.