The Dow blasted off to the upside after yesterdays one day positive reversal. The most watched index climbed 424 points on very heavy volume again. The advance/declines were 2 to 1 positive. The summation index is tracking sideways. The Dow is outperforming now which isn't the ideal scenario for the bulls. But we won't argue with price. I'm back to looking for new all time highs in the S&P 500 in the coming days unless things turn back down before the end of the week. GE was up 1/2 and the volume remains heavy. Gold fell $5 on the futures and the US dollar was a bit lower. The XAU rose 2 1/2, while GDX added 1/4. Volume was light. Higher prices for the gold shares with a lower gold price is bullish. As much as I'd like to try the GDX calls again, I'm on the sidelines for the rest of the month. Mentally I'm feeling OK. The VIX was lower today and that certainly fits with a strong market. It appears yesterdays action in the VIX was exhaustive and that going forward we'll see higher prices for equities. That's my best guess at the moment. We'll get some economic data out tomorrow and then finish off the week and the month on Friday. Option premiums remain elevated while the best time to purchase the SPY March calls was yesterday. Perhaps we'll get another chance before option expiration. Asia was lower and Europe higher overnight. We'll keep an eye on tonights headlines.