Another day another gain as the Dow was up 64 points on average volume. The advance/declines were positive. The summation index is moving higher. The overall market was much stronger than the Dow, with the NASDAQ leading the way. We're still short term overbought for the major indices and staying that way. The S&P 500 set another new all time high and there is no overhead resistance. The S&P had its 5% correction and now we'll see how far it can go on earnings. The bulls are in control. Gold was up around a dozen on the futures and closed above the $1800 level. It also broke the down trend line that has been in effect for about 5 months. The US dollar was slightly higher and interest rates slightly lower. The XAU was up 2 1/3, while GDX added 3/8. Volume was light. Like the overall market, the gold shares are short term overbought and staying that way. At this rate my open order for the GDX January calls won't get filled. Mentally I'm feeling OK. The VIX was a bit lower and remains extremely short term oversold. This short term condition will have to resolve itself with some selling but we cannot guess exactly when this will occur. I'm thinking sooner rather than later but who knows? That might give us a set up for the SPY November calls because any selling would be brief in my opinion. We'll see. End of the month coming on Friday. Plenty of economic data coming out during the week as well. Europe was higher and Asia mixed overnight. We'll see how things go in the after hours.