The Fed chairman said that it is time to lower interest rates and that is all the market needed to hear as the Dow gained 462 points on light volume. The advance/declines were 8 to 1 positive. The summation index is moving up. The NASDAQ led the way and the small cap Russell 2000 was up over 3%. The S&P 500 was higher and remains short term overbought. At this rate new all time highs for the S&P are probably in the cards for next week. The NYSE Composite is already there. Gold was up $30 on the futures. The US dollar was lower along with interest rates. The XAU gained a couple of points and GDX added 1/2. Volume was light. Still waiting for a GDX pullback but it may not appear when we want it. Markets rarely cooperate. Mentally I'm feeling a bit tired. The VIX was lower today and is right at the 50 day moving average. Remaining short term oversold here and it looks like that could last a while. So it looks like all systems are go for higher prices going forward. When there is plenty of money to drive even the smaller issues higher, liquidity is not a problem. The promise of lower interest rates creates a positive backdrop. The best time to jump on board has passed and I will wait for the next signal or some kind of set up. I'll read the charts over the weekend as usual. Europe and Asia were higher to close out the week. It's Friday afternoon and time for a break.