The Dow powered higher today by 332 points on good volume. The advance/declines were better than 2 to 1 positive. The summation index is turning back up. No news to speal of but the earnings are driving things higher. My thesis of the market heading back to lower levels was wrong. I'll have to re-evaluate what I'm thinking here. The S&P 500 closed at a new all time high. Not yet completely overbought and no overhead resistance. The trend has turned back up but I will be watching for the potetial negative divergences. GE was up 1/4 but the volume was light. Gold got clobbered today as the futures lost forty bucks. The US dollar was higher. The XAU shed 2 1/8, while GDX dropped 3/4. Volume was round average for lately. Considering the drop in gold itself, the gold shares held up rather well. I adjusted my open order for the GDX February calls overnight and it got filled. It is showing a slight loss. The gold shares are oversold but the technical damage done today in gold itself cannot be ignored. My best hope here is that we get an oversold bounce to exit this trade. My take on the markets at the moment is off. Mentally I'm feeling OK. The VIX continues lower and that fits with todays gains. The NASDAQ along with the Russell 2000 also closed at new all time highs today. The volume hasn't been all that impressive here but you cannot argue with price. Unless there is some kind of reversal after the employment numbers tomorrow, you can look for higher prices going forward. I also might have to just head for the sidelines because my ideas right now are wrong. My readings of the charts are incorrect unless we see some sort of reversal for gold tomorrow. The Gamestop episode has quickly faded away. Asia was lower and Europe higher overnight. We'll see how the jobs report goes tomorrow as we close out the trading week.