Overbought, staying there and a slight gain today as the Dow gained 6 points today on average volume. The advance/declines were about even. The overall market was stronger than the Dow. The advancing grind continues. Day in and day out there is no concentrated selling. The trend is up and the rally continues. Summation index continues higher but we are just about as far as we can go. But who knows? GE was off 1/8 on light volume. A bearish candlestick pattern on the daily chart here as well as a negative divergence on the RSI. They imply lower prices for GE in the near term. Gold was up $10 in the futures market and fell by that amount in the aftermarket. The US dollar ended flat on the day. The XAU fell 2/3. ABX, GG and NEM all had fractional losses on light volume. I'm leaving in the open order for the February ABX calls but the risk is probably higher than I would normally take on. There are only 6 days left in the February option cycle. Todays action in gold itself wasn't bullish. However I've been a believer in this trade for some time now. So we'll see. I may cancel it tomorrow though. Mentally I'm feeling tired, did not sleep enough. I have expected the market to take a rest but it hasn't happened. Perhaps we will simply continue the upwards trend into expiration. That's a guess as usual. We'll see how gold closes out the week tomorrow. There are still the ABX earnings out next week as well. So we'll get through Friday and go from there.