Higher across the board today as the Dow rose 160 points on light volume. The advance/declines were positive. The summation index is beginning to turn sideways. The NASDAQ led the way up today and that is a plus. There was a gap higher at the open and then the market traded sideways for the rest of the day. We once again got a signal last night from the McClellan oscillator for a big move within the next two trading sessions. This signal has not worked lately but we'll see if it can tomorrow. Some of the short term indicators for the S&P 500 have turned up in oversold territory. Perhaps the inflation data tomorrow can spur some kind of activity. NVDA earnings will be released after the close. Gold was up $24 on the futures. The US dollar was a bit lower and interest rates dropped. The XAU was up almost ten points and GDX added two. Volume was a bit above average. Gold and the gold shares continue to attract capital. The current rally is relentless. There are no pullbacks to try the GDX September calls. The short term indicators for GDX remain extremely overbought. We certainly will not chase it at this point. Mentally I'm feeling OK. The VIX was lower today which fits an up market. However some of the short term indicators on the VIX continued to move up. I'm not sure what that means, if anything. Curious movement though. Remaining on the sidelines for now. Europe and Asia finished mostly higher. We'll see how things go tomorrow.