The Dow exploded to the upside today as it gained 227 points on good volume.  The advance/declines were 5 to 1 positive.  The summation index continues higher.  Today Russia is not invading the Ukraine.  Tomorrow, who knows?  Headline driven markets can turn on a dime in either direction.  New highs for the S&P 500.  The small stocks out performed and that is bullish.  Still overbought for the stock indices but there is no overhead resistance.  GE turned around and was up 1/2 on better volume.  Still below the 50 day moving average here.  Gold dropped back by 12 bucks on the futures.  The US dollar was a little higher.  The XAU was off 1/2.  ABX and GG had slight fractional losses, while NEM was up 1/2.  Volume was light.  Considering the news today, gold held up pretty good.  There is still plenty of time left in the month.  The short term technicals for the gold shares have rolled over but not dramatically so.  Patience is still the theme here for getting some calls.  We are right at the up trend line in GG that began the recent rally.  We'll see if it holds in here or not.  That will be the key to near term direction there.  Mentally I'm feeling OK.  Volatility has returned the past couple of sessions for the stock indexes.  Trading gets a lot tougher in these conditions.  I do not have any OEX trades in mind.  The employment report on Friday looms large as well.  Gold is still due for a rest in my opinion.  A one day decline is not enough.  Up trend lines in the gold share indexes are not at risk yet.  The US dollar is trying to hold above the recent lows and that isn't bullish for gold.  The employment report later this week should impact gold as well.  We'll see what tomorrow brings.