Continuing higher as the Dow soared 305 points on good volume. The adance/declines were better than 2 to 1 positive. The summation index has turned higher again. The NASDAQ led the way today and that is a plus for the bulls. The S&P 500 has just slightly broken through the down trend line that has been in effect since the beginning of the year. It is short term overbought. I went back and forth about trying the SPY February puts ahead of tomorrows inflation data. However I did leave my order out there and it did get filled. It is showing a small loss. The stop loss order is in. If we get some early selling tomorrow I'll be out because the tone of the market has changed and there is much too much bearishness out there. Also the summation index needs to start moving back up as it is in negative territory. It usually does not stay there unless we're in a bear market. Gold was up another six bucks on the futures. The US dollar was a bit lower while interest rates were steady. The XAU and GDX had slight fractional moves one way or the other on light volume. Waiting on tomorrows inflation data. The light volume leads me to believe that there's still a lack of interest here. Mentally I'm feeling OK. The VIX was lower and is right at the 20 level. It is short term oversold. Tomorrows movement will tell us a lot. If the market is higher and the VIX drops through 20, we can say that the market decline has run its course. If the VIX bounces back up from here then volatility is not over yet. I'm banking on the latter but a case could be made either way. At any rate my position has been taken and we'll see how it goes tomorrow. Europe and Asia were both up last night as money is flowing back into stocks around the world. We'll see what tomorrow brings.