A mixed bag today as the Dow lost 8 points on good volume. The advance/declines were positive. The summation index remains in a downward channel, still trying to turn back up. Both the NASDAQ and the S&P 500 were positive today. They also both remain short term overbought. Not a lot of fireworks for option expiration week so far. The bacground now remains filled with political rhetoric and the coronavirus. Fear of more riots on January 20th dominate the headlines but the market chugs on. I still would not be surprised by new all time highs in the next couple of days but that's just a guess at this point. On the sidelines for now. GE was off about 1/4 but the volume was very light. Gold was off $5 on the February futures. The US dollar was higher. The XAU dropped almost 2 1/2, while GDX shed 3/8. Volume was light. Gold and the gold shares seem to be just marking time here but we'll have to see how the rest of the week plays out. Not completely short term oversold for GDX yet. I am looking at the GDX February calls but in no rush to purchase. Mentally I'm feeling OK. The VIX was lower today and that's a plus for the bulls. Short term oversold now for the VIX but it can stay that way in uptrends. We are still in an uptrend as far as I can tell with regards to the major averages. Again, I'll be looking for new all time highs before the close on Friday. Where we go after that is up in the air. The February option cycle has an extra week in it so the premiums will be high. We are also on the brink of a long holiday weekend. I'll sit back and watch for now. Europe and Asia were generally higher in last nights trade. We'll keep an eye for any ongoing developments.