Once again the overall market powered higher and the Dow lagged behind. The most watched index rose 12 points on heavy volume. The advance/declines were positive. The summation index is still in a sideways channel. The jobs report came in better than expected. The NASDAQ was the clear leader once again. It closed at a new all time high along with the S&P 500. The S&P simply remains short term overbought with no overhead resistance. The bulls are clearly in charge. This could persist into option expiration next Friday which would make our idea of getting some SPY May puts wrong. We'll go over all the details this weekend and decide what action if any to take. Gold was up $22 on the futures. The US dollar was lower as were interest rates. The XAU was up 11 1/2, while GDX added 2 3/4. Volume was a bit below average. The short term indicators for GDX are back to moving higher with room to go. The short term down trend line remains in place here but another positive session will break through it. It looks like I've missed the GDX call trade here so it is probably a better idea to look elsewhere with only a week left in the May option cycle. Mentally I'm feeling a bit tired. The VIX was slightly higher today which does not fit with an upside market. The short term indicators here are moving sideways in oversold territory. I am still not sure where this indicator is heading next. A lot of work to do over the weekend to try and come up with a game plan for next week. Plenty of economic numbers due out including a couple of inflation reports. Europe and Asia were lower to close out the week. It's Friday afternoon and time for a break.