Today we saw a broad based rally but the Dow only managed a gain of 96 points on light volume. The advance/declines were 2 to 1 positive. The summation index is moving sideways. Both the S&P 500 and the NASDAQ posted new all time closing highs. The NASDAQ was up 2%. That is a plus for the bulls. There is no overhead resistance. The S&P is getting to short term overbought. The lack of volume is a concern but you cannot argue with price. Gold was up over $20 on the futures. The US dollar was a bit higher and interest rates continued to fall. The XAU rose 2 1/8, while GDX almost gained 2/3. Volume was light. The 50 day moving average has held for now on GDX. Light volume here is a concern as well. GDX is short term oversold on some of its indicators. My GDX June calls are showing a small profit. Would have liked to see GDX moving up better than it did considering the good day that gold itself had. Tomorrow is probably a waiting game ahead of the employment report. Mentally I'm feeling a bit tired. The VIX was lower which fits an up market. The short term indicators are still around mid-range. Asia was generally lower and Europe higher in last nights trade. I'll keep watch on tonights headlines.