Up, up and away we go as the Dow climbed 351 points on holiday week light volume. The advance/declines were better than 2 to 1 positive. The summation index is moving higher. New all time highs again for the S&P 500. It remains short term overbought with no overhead resistance. Other indexes should follow to new highs as the days move ahead. Declines may be bought for now. Gold finished slightly lower. Both interest rates and the US dollar finished little changed. The XAU and GDX were little changed as well on anemic volume. This could turn out to be a slow week for the gold shares ahead of the new year. That's a guess as usual. Still deciding whether or not to take the loss in the current GDX trade. Short term overbought for GDX. Mentally I'm feeling OK. The VIX was lower today and has gotten very oversold on the short term technical indicators. This cannot last forever. It doesn't mean that a lasting decline will follow but we cannot go straight up forever either. For now the Santa Claus/Year end rally is in force. Europe was higher and Asia mixed overnight. We'll see how things go tomorrow.