Moving up as the Dow rose 131 points on good volume. The advance/declines were around 2 to 1 negative though so perhaps the market is due for a rest. The summation index continues higher. The NASDAQ led the way again and that's a plus. The S&P 500 flirted with closing at a new all time high but just missed. The short term indicators here are mostly overbought. I still like the idea of the SPY February calls but we'll have to see some kind of selling in order to get a chance to purchase them. Plenty of time left in the February option cycle. You could argue that the best time to get the calls has passed and I can't really say that is wrong. But we'll wait for a technical signal before doing anything. Gold rose $7 on the futures. The US dollar was a little higher along with interest rates. The XAU dipped 3/4 and GDX was barely lower. Volume was light. GDX remains short term overbought. Mentally I'm feeling OK. The VIX finished flat for the session. Still short term oversold here. The Bollinger bands on the VIX are starting to converge and we'll keep an eye on that. The VIX remains below the 50 and 200 day moving averages. As earnings continue to be reported they will get stocks moving as will the latest headline out of the White House. That is the environmment at the moment. I'll probably wait until after the Fed next week to take a position. I'm still in the calls camp going forward. Asia was mixed and Europe generally higher overnight. We'll see how it goes tomorrow.