Back to the upside for the overall market today but the Dow only rose 4 points on light volume. The advance/declines were shy of 3 to 1 positive. The summation index is now trending lower. The NASDAQ was up 1% and led the way higher. That's a plus for the bulls. The S&P 500 had a decent gain. The short term indicators here are turning back up. The S&P is still in short term overbought territory. I'm not sure where we go from here. The most recent time the S&P daily candlestick chart had this kind of configuration it led to a decline. Gold was off a couple bucks on the futures. The US dollar was lower and interest rates finished flat. The XAU was up 1 5/8, while GDX added 1/2. Volume was pretty light. The short term indicators for GDX are now mid-range. It is possible that the decline will end here for the gold shares but it is not a certainty. My open order for the GDX June calls remains out there. GDX has long term resistance where it stopped this week at 37.5-38. If it can make it through there on good volume the upside would be substantial in my view. Hasn't happened yet and GDX is medium term overbought. Mentally I'm feeling OK. The VIX was lower today and the short term indicators have turned back down. That gives the perception that yesterdays sell off was a one day affair. We'll know more in the coming days. We also don't know if today was just an oversold bounce since many players have seemed to take the day off ahead of a holiday weekend. Volume was pretty light. We'll go over the charts in the next few days to try and form a consensus as to what exactly is going on. Asia was lower and Europe ended little changed today to close the week. It's Friday afternoon and time for a break.