We are now back to the top of the trading range in the S&P 500.  The Dow gained 60 points on light volume.  The advance/declines were positive.  The S&P 500 made it above the 1570 level and then fell back.  I suppose we are at some kind of moment of truth for the stock indices.  This could be the light volume levitation that allows us to get some OEX puts here.  Or it could be the start of another upside momentum move if we blow through the 1570 level.  The Russell 2000 and the Dow transports were both negative today which supports the bearish alternative.  The summation index is still heading down as well.  I personally do not have the same downside conviction that I had last week.  I think it could go either way here now.  GE was off 1/8 after being higher early.  Hugging the 50 day moving average here.  No trades in mind for now with respect to GE.  Gold continued higher as the US dollar fell today.  The precious metal futures rose $14.  The XAU finally showed some life by gaining 5 points on the day.  ABX up 1/3, GG and NEM rose a buck.  Volume was good.  ABX is the laggard here and has been for quite some time.  Perhaps I should try the calls with another gold share issue.  I still have the open order in for the May calls there.  I'll ponder this tonight.  Mentally I'm feeling OK.  We've got the Fed minutes out tomorrow and they could be a market mover.  Not exactly sure what to expect.  Perhaps today was the time to purchase the OEX puts and perhaps not.  When in doubt stay out goes the saying.  I'll consider what to do about this possible trade tonight.  Gold is having a good week so far.  The gold shares finally showed some upside today as well.  That doesn't mean that it's the start of something substantial but it could be.  I'll consider keeping the open order for the ABX May calls or perhaps adjusting the buy price.  Or maybe canceling the trade altogether.  We'll see what happens overseas and go from there.