A broad move higher today as the Dow gained 242 points on light volume. The advance/declines were almost 5 to 1 positive. The summation index is back to trying to move up. The Fed tone at the Jackson Hole summit was mild and the market took off to the upside. The NASDAQ led the way and arrives at a new all time high. Ditto for the S&P 500. It remains short term overbought. My SPY September put trade went from a winner to a loser overnight. I decided to simply sell out and take the loss rather than hold on at this point. It was a 25% loser. I still don't trust this light volume move higher and may try this idea again a a different strike price next week. Or I may wait until after Labor Day when all the players have returned. Gold liked what it heard today as well with the futures gaining $25. Interest rates moved lower as did the US dollar. The XAU was up 5 1/3, while GDX gained 1 1/8. Volume was heavy which implies that this move higher in the gold shares is for real. My open order for the GDX October calls is still out there but it will not get filled after todays strong advance. I'll probably cancel it on Monday. It's looking like a missed opportunity for the gold share calls here. Mentally I'm feeling OK. The VIX had a strong move lower which fits with the rally we saw in stocks today. Yesterdays move up in the VIX now looks like a head fake. The S&P continues to hug its upper Bollinger band. I'm not sure how long that can last. I'll be going over the charts as usual this weekend to try and figure out what to do from here. Perhaps stepping aside for a week is the prudent game plan. We'll see. Europe was higher and Asia mixed overnight. It's Friday afternoon and time for a break.