Once again were getting a mixed bag when it comes to stocks as the Dow soared 464 points on heavy volume. The advance/declines were 3 to 1 positive. The summation index is turning back up. The Dow was by far the best performer of the day as the NASDAQ posted a small loss. The S&P 500 did manage to get throught the short term resistance line today and close above it. I'm still considering the SPY March calls if we get some selling here soon. However the opportune time to buy the calls here has passed. Not yet completely overbought for the S&P, so there's a chance that a call trade before expiration could still work. I do not however like the fact that the Dow is leading the way here. It's a healthier market when all stocks are rising and that isn't the case at the moment. GE was off 3/4 on extremely heavy volume. It does need to work off its short term overbought condition. Gold was up around another five bucks as the US dollar was slightly lower in todays trade. The XAU and GDX had fractional gains on very light volume. No volume equals no interest in the gold shares right now. I'm still looking at the April option cycle here if I decide to try the GDX calls. Mentally I'm feeling a bit tired. The VIX was lower today and still has plenty of room on the indicators to support the short term rally that we find ourselves in. It is true that the S&P 500 could be forming a head and shoulders top here, with the right shoulder being made now. But the fact that I'm seeing this talked about so much leads me to believe that it won't happen. Whenever the majority believe something about the market it rarely comes to pass. We'll know in the coming days. I'm still going to look for new all time highs for the S&P before expiration. Europe and Asia were generally higher overnight. We'll keep an eye on the overnight headlines.