It was a one day reversal to the upside for the Dow as it opened lower and closed higher.  The most watched index rose 38 points on good volume.  The advance/declines were slightly positive.  The summation index is heading sideways.  The overall market was weaker than the Dow, with the NASDAQ showing an over 50 point loss.  It was the end of the month though, with position squaring probably taking place.  Poor earnings from GOOG didn't help the bullish case.  We'll get the Fed tomorrow and no change in rates is expected.  All ears will be on the press conference.  After that it's simply a wait for the employment report on Friday.  We're still overbought for the major averages any way you measure things.  GE rose on its earnings and gained 3/8 on very heavy volume.  Off the highs for the session though.  Gold bounced back a couple bucks which wasn't much considering the drop in the US dollar.  The XAU and GDX had minor gains on very light volume.  No interest in the gold shares here and that will probably kill my GDX May call options.  They are solid losers for now.  Mentally I'm feeling OK.  Another new all time closing high for the S&P 500 today.  However the small stocks didn't lead as they have been and that's a warning sign.  Whether or not it really means anything will be discovered as time moves on.  The technically overbought condition has lasted for quite some time and we are overdue for some type of negative price action.  Or at least some sideways price movement in stocks.  But you could have said that a month ago for the S&P and still be waiting.  The grind higher continues and unless there is something unexpected that comes out of left field the grind will go on.  The blog has been a broken record lately but the conditions just haven't changed.  No overhead resistance and plenty of money chasing stocks around the world.  We'll enjoy it while it lasts.  Asia was lower overnight and some markets there will be closed on holiday for the rest of the week.  Europe was mixed.  We'll see what the Fed has to say tomorrow.