Buyers took control today as the Dow rose 350 points on good volume. The advance/declines were shy of 3 to 1 positive. The summation index remains in a sideways channel. The NASDAQ led the way up and that's a plus. The S&P 500 closed at a new all time high. The market seems to be saying that tomorrows jobs report is nothing to worry about with todays price action. The short term indicators for the S&P 500 have turned back up. Another day like today on Friday will negate any kind of negative RSI divergenes on the S&P daily chart. I did adjust my open order for the SPY September puts to a closer in the money strike price. We cannot rule out that the market takes off to the upside here but I am not counting on that scenario. I could be wrong. Gold took a breather and was off $29 on the futures. The US dollar was up a bit and interest rates dropped. The XAU fell 2 2/3, while GDX was down 2/3. Volume was above average. GDX is still short term overbought on the indicators. We are remaining on the sidelines with regards to the gold shares for now. Mentally I'm feeling OK. The VIX was lower today and is back below its 50 day moving average. The short term indicators here are pointing down with room to go. The VIX is implying that the gains for stocks will continue in the short term. We'll see. But we'll know more after the market reaction to the employment report. Asia finished mixed and Europe was generally higher overnight. We'll close out the short trading week tomorrow.