Back to the upside today as the Dow gained 155 points on average volume.  The advance/declines were almost 2 to 1 positive.  The summation index continues higher.  The overall market was much stronger than the Dow and that is a plus for the bulls.  We've also climbed back above the zero line in the summation index.  My SPY January puts are now in the red over 50%.  Only a sharp decline in the next couple of sessions will save this trade.  It is once again a cut the loss kind of deal.  We remain short term overbought for all the major stock indices.  I do expect weakness on Thursday but from what levels and how much?  I also could be wrong.  GE was off over 1/8 but the volume was lighter than is has been.  Gold lost a couple bucks as the US dollar was higher.  The XAU fell 1 3/4, while GDX dropped 1/3.  Volume was average.  Mentally I'm feeling OK.  Another losing trade in the works as the market did not follow through on yesterdays drop.  Good news from China and bank earnings conference calls are the reasons for the rise.  The S&P is trying to get through the overhead resistance here but I don't think it will be successful.  That said there is room to go higher up to the declining tops line that began in October of last year.  That will be the next spot to try some puts if we get that far.  I've got to say at this point it appears that we will.  That level is just below 2700.  3 days to go in the January option cycle.  I'm inclined to wait until Thursday to dump this trade but it may not matter if we continue to the upside tomorrow.  There's some Brexit news due out of England tonight but it is already in the market according to some.  More bank earnings on tap as well.  Europe and Asia were both higher in last nights trade.  We'll see what tomorrow brings.