Higher today as the Dow gained 140 points today on average volume. The advance/declines were positive. The summation index is moving down. The overall market was stronger than the Dow with the NASDAQ leading the way. That's a plus for the bullish cause. We could see a continued bounce here and it is possible the decline is over for now but I doubt it. Resistance for the S&P comes in at the declining tops line and 50 day moving average at around 3350. That is the area that will tell the story and I'd say to keep an eye on that. We've got some economic data out this week but I think that the market is moving to its own beat for now. Also the Fed chair with some testimony before Congress, which happened today and continues tomorrow. GE was off 1/8 and the volume remains heavy. Gold was down about ten bucks on the futures as the US dollar continues higher. The XAU and GDX had fractional gains on light volume. I left my open order out for the GDX October calls. I also added another order at a different strike price since some of the indicators for GDX are where we've seen the recent declines in this index turn around. I canceled it before the close but may try again tomorrow. Gold is holding $1900 for now but with the climbing dollar the question is whether it will hold or not. I certainly don't know the answer to that but the short term technical indicators for GDX have reached oversold. This is the logical spot to try the calls. Mentally I'm feeling tired. The VIX was lower and that makes sense with an up stock market. Still above the 50 day moving average here with some of the indicators in oversold territory. It's one of the reasons that I don't think that we're done with the downside for the market. Today the NASDAQ barely broke through its declining tops line and closed just below the 50 day moving average. This index led the way down and it should lead the way back up, so it's soemthing to keep an eye on tomorrow. Gold has held $1900 and silver has held $24 support for now. I'll look things over again tonight but I'll probably be placing another order for the GDX October calls tomorrow. But it may be too late there as well. Plenty of time in the October option cycle for trading. What I want to avoid is being overconfident just because the last trade was a winner. Asia was mixed and Europe generally higher in last nights trade. We'll see how things go tomorrow.