The month of May begins with a gain for the Dow as it climbed 238 points on average volume. The advance/declines were better than 2 to 1 positive. The summation index is still trending sideways. It wasn't off to the races though as the NASDAQ posted a loss for the day. We'll see if that means anything going forward. The S&P 500 closed off from the best levels of the day and remains overbought. Still dealing with earnings reports and awaiting the jobs numbers on Friday. GE was up 1/3 on average volume. Moving sideways here and waiting to see which way we go. Gold gained $24 on the June futures contract as both the US dollar and interest rates dropped. The XAU was up 6 1/2, while GDX added 1/3. Volume was good. It appears that I've missed the chance for the GDX May calls after todays price action. Mentally I'm feeling OK. The VIX was lower and that fits with an up market. The short term indicators here have turned back down and that says that perhaps a rally is getting underway. If so we'll soon be seeing new all time highs for the major stock indices and perhaps the blow off top that I'm hoping for. The Bollingers bands are starting to level out now for the VIX but they still imply some type of big move in the near future. We'll be keeping an eye on it. Asia was lower with holidays closing some of the exchanges there. Europe was higher. We'll see what tomorrow brings.