We got a huge bounce today as the Dow climbed 674 points on good volume. The advance/declines were 5 to 1 positive. The summation index is still moving down. There was a gap up at the open and the market never looked back. The NASDAQ was the leader and that's a plus. However every up day that we've seen in this recent decline has been met by selling in the following session. So we'll see what happens on Monday. It would not be a surprise for the market to put in some kind of bottom here as it tries to hold on at the zero line of the summation index. The S&P 500 remains short term oversold but the indicators have turned up. Options expiration week will be upon us along with a Fed meeting. Something that could factor into where things go is the open interest in the SPY puts which happens to be very heavy. Are the market makers prepared to book all those losses? It is an argument to try the SPY March calls next week. I'll consider this idea over the weekend. Short term trades are not usually an area that I do well in and that has to be taken into consideration too. Gold finished flat on the session. The US dollar was a bit lower and interest rates a bit higher. The XAU was up 1 1/2 and GDX added 3/8. Volume was a bit above average. The gold shares followed the overall market higher. GDX remains short term overbought. Mentally I'm feeling OK. The VIX continued lower today and the short term indicators are moving down. Will the VIX continue to fall and make it back below the important level of 20? Or will it turn back up as the market continues to fall? This is something that we'll have to watch closely next week. I'll be checking the charts over the next two days to try and come up with some type of game plan for next week. Europe and Asia finished higher with the exception of India. It's Friday afternoon and time for a break.