Moving higher as the Dow rose 176 points on light volume. The advance/declines were 3 to 1 positive. The summation index is moving up. The NASDAQ continues to lead and that's plus. Sellers have taken to the sidelines for now. As long as the summation index is moving up the path of least resitance is higher. That said I might try the SPY May puts if we get a short term overbought signal. The short term indicators for the S&P are getting there. If we continues to trend higher and the volume turns out to be light the puts may be the right idea. We'll see. Gold was up $24 on the futures. The US dollar finished flat as did interest rates. The XAU gained 3 1/8, while GDX added 3/4. Volume was average. I canceled my open order for the GDX May calls as I have missed this small move higher. The short term indicators for GDX are neither overbought or oversold. If GDX makes it back down to the bottom of its current price channel I might have time in the May option cycle to try this idea again. But GDX could also just keep going up from here. Mentally I'm feeling OK. The VIX was just a bit lower today. Still short term oversold on the technical indicators. There's still room to go lower here. Not a big week for economic data. Plenty of Fed speak though as numerous speeches are on tap. We'll stick with the technicals and remain patient for now. Asia and Europe were higher for the most part to begin the trading week. We'll keep an eye on the overnight headlines.