Overbought again on the Dow as we gained another 70 points today. Advance/declines were over 2 to 1 positive. Volume was average. I was expecting some weakness at the end of the week and all we got was a hundred points down early Thursday morning that was quickly erased. Hard for me to figure. You can't ignore the price action though. We are just about at the 200 day moving average for the S&P 500. That should be a barrier to further upside next week. But who knows? Gold was up over $10 and the XAU rose 1 7/8. ABX, GG and NEM only managed fractional gains to the upside on light volume. This is worrisome. When the major gold shares can't rally when the metal itself moves higher, it isn't a good sign in my opinion. The dollar was lower today as well but all we got were fractional moves higher. My ABX calls are showing a slight profit but it is tenuous. The overall market is overbought and any drop will affect the gold shares. Earnings are out for ABX before the bell on Wednesday and that is the key. The technicals look OK, we're not overbought as yet. If gold could bust through $1160, that would be a plus. Mentally I'm a bit tired, did not sleep enough. The market continues to defy logic here but it must be respected. Nothing seems to be able to bring it down. Not even for a few days. Eventually something will be a catalyst for a multi week downtrend. However we haven't seen it yet and the trend remains up. Bad news is ignored and that is bullish. I'll be checking the charts over the weekend. The game plan for now is holding the ABX calls until the earnings on Wednesday. But for now it's Friday afternoon and time for a break.