Drifting higher before a long holiday weekend as the Dow gained 184 points on light volume. The advance/declines were positive. The summation index is moving up. The song here remains the same and it is one of buying. The Dow led the way today. All of the major stock averages are short term overbought, some more than others. We'll have a half day session on Friday but most of the palyers will be gone until Monday. Still moving up in a straight line and the next resistance for the S&P is 4600. At the rate we're going we'll get there next week. Gold lost $9 on the futures. The US dollar was higher and interest rates are still trending sideways. The XAU rose 1/2, while GDX finished flat. Volume was pretty light. It is a plus that the gold shares held up despite the drop in gold itself. However it is a light volume holiday mode market. We are still waiting for the complex inverse head and shoulders pattern on GDX to manifest itself. My GDX December calls are still showing a slight profit. We continue to have the open order out for the GDX January calls. Mentally I'm feeling OK. The VIX was lower again and is in the area where is has risen from over the past six months. Given that it is also extremely oversold we should see some type of rise from here for the VIX. Whether or not that translates into a pause for the rally remains to be seen. Europe and Asia were generally higher in last nights trade. Happy Thankgiving everyone.