A bounce in tech stocks led to a rally today but the Dow only added 30 points on good volume. The advance/declines were around 2 to 1 positive. The summation index is trying to turn around and I think that it will be successful. The overall market was much stronger than the Dow, with the NASDAQ leading the way. It gained over 450 points. Interest rates retreated and that was the excuse for the rally. Although I didn't get any SPY March calls I'm still looking at this idea as the next trade. Today the S&P 500 made it above a short term resistance line that has been in effect since mid-February. However it could not hold the gain and closed back below it. Volume, although heavy, still wasn't as good as it's been lately. So there may be another dip lower here to give us the chance to try the SPY March call trade. We'll see in the coming days. GE stalled today and was off 1/8 on good volume. Gold soared as the US dollar dipped. The gold futures climbed over thirty bucks. The XAU was up 3 points, while GDX rose 7/8. Volume was average. The short term technical indicators for the gold shares have turned up. I am however still waiting for the GDX April calls as the next trade here. If it turns out that a sustained move higher for the gold shares starts here, then I've missed it. Mentally I'm feeling OK. The VIX was lower today but did close back above its 50 day moving average. The indicaters here have turned lower and have plenty of room to go before getting oversold. It is another eason to remain bullish here for stocks. On the flip side the bounce in the NASDAQ today out of the blue could be worrisome if we don't see some more near term upside. The NASDAQ has led the way down and sometimes in down markets you get moves like today out of the blue that are just oversold bounces. I don't think that's the case here but we'll be keeping an eye on it. Europe and Asia were both higher overnight as the recent drop in stock prices around the world comes to a halt. We'll see what tomorrow brings.