Continuing higher as the Dow rose 263 points on light volume. The advance/declines were 5 to 1 positive. The summation index is trying to turn back up. Once again the NASDAQ led the way and that's a plus. Is the recent decline over? Probably. We can't rule out a retest of the lows and that would tell the story. But some indicators reached extremes last week. Perhaps the major selling is over. The S&P 500 is still below its 50 day moving average but the short term indicators have turned back up. It is still short term oversold but not as much as before. Earnings have a chance to keep things afloat. But we'll have to wait and see how the rest of this week plays out. Gold lost $9 on the futures. The US dollar was lower and interest rates had a minor dip. The XAU added over 1 3/4, while GDX gained 1/2. The gold shares up with gold itself down is a plus for the gold bulls. Volume was a bit above average for the gold shares. My open order for the GDX May calls wasn't filled and I'm leaving it out there. My hope is that GDX trends sideways to down in the near term and the order gets filled. Some of the short term indicators for GDX are oversold but not extremely so. There is plenty of time left in the May option cycle that we will be patient with this idea for now. Mentally I'm feeling OK. The VIX was lower today and the short term indicators there moved lower as well. The VIX remains above both its 50 and 200 day moving averages. Europe and Asia were higher overnight. We'll see how things go on Wednesday.