Back down after yesterdays spectacular rise as the Dow lost 115 points on average volume. Advance/declines were about 2 to 1 negative. Where are we going? Overbought here but that doesn't mean we just fall apart. The market is having a nice rally and there is no reason to think that we won't head higher. Lots of resistance coming up but we aren't there yet. Just broke through the near term barrier yesterday. No OEX trades for now. Gold lost $25 today and the XAU fell 2 1/2 after being down a lot more. The gold shares are holding up pretty well here and that should be the next play. ABX down 1, GG off 1/2 and NEM dropped 3/4. Volume picked up a bit to the downside and that would be a concern going forward. GG is showing good relative strength and that is probably where I'll be looking. But it's the sidelines for now. Mentally I'm doing OK but a bit tired. The prudent thing to do here is wait for the gold shares to work off the overbought condition created by last weeks rise. That's what I'm trying to do now. There's no telling what the end of the month next week will do also. So it's a waiting game for now. Keep an eye on things and if it looks like it's time to trade, do it.