Volatility returned today as the market made an incredible one day upside reversal. The Dow gained 141 points after being down almost 800 early on. The advance/declines were negative and volume was heavy. The summation index is moving up. GDP came in less than expected but the inflation data was on target. The Dow led the way with the NASDAQ being the laggard posting a small loss. The S&P 500 had a huge gap lower at the open and made it all the way back and then some. It remains short term overbought. My order for the SPY May puts remains out there however it really seems like this market wants to go higher. However technically we have reasons to be looking at the puts here for a short term trade. Perhaps I'll have to adjust my open order again but we'll see what happens overnight. Employment data out on Friday. Gold was off $28 on the futures. The US dollar was higher and interest rates dipped slightly. The XAU was up 2 1/8, while GDX added 1/2. Volume was light again. The gold shares did outperform the metal itself and that's a plus. The short term indicators for GDX have gotten to mid-range but we'd still like to see them get all the way to oversold before trying the calls there. Mentally I'm feeling OK. The VIX had only a slight gain and finished well below its best levels on the day. It remains short term oversold. The daily candlestick chart looks like it wants to go lower which would be supportive for the stock market. We still have earnings to contend with. Beginning of the month of May tomorrow. Plenty to think about tonight. Asia and Europe were generally higher overnight. I'll keep watch for any overnight developments.

Moving higher ahead of tomorrows economic data as the Dow gained 300 points on good volume. The advance/declines were around 2 to 1 positive. The summation index is moving up. The Dow led the way today and that isn't the most bullish scenario. The S&P 500 remains short term overbought and can stay that way during rallies as we are in at the moment. I adjusted my open order for the SPY May puts but it still has not been filled. I'm looking for the S&P to get back to the 50 day moving average just above the 5600 level for this order to have a chance. If the market doesn't stop there then we'll know that this idea isn't going to work. Plenty of important earnings reports in the next couple of days so things should get moving one way or the other. Gold dipped $18 on the futures. The US dollar was slightly higher and interest rates a bit lower. The XAU dropped 2 1/3 and GDX shed 7/8. Volume was light. The short term indicators for GDX are trying to roll over. Patience on buying the calls there for now. Mentally I'm feeling OK. The VIX was lower today and that fits an up market. Below the 50 day moving average here now and still short term oversold. The VIX does stay short term oversold during rallies but that condition doesn't last forever. Ideally I'll get filled on the SPY May puts tomorrow and things will then start to head back down. Markets rarely cooperate. With the summation index moving higher any put trade has to be short in time length because you are bucking the overall trend. Europe and Asia were generally higher overnight. We'll see how it goes tomorrow.

An interesting session today as the market opened higher, sold off then managed to make it all the way back. The Dow gained 114 points on average volume. The advance/declines were positive. The summation index is moving up. It was a mixed bag as the NASDAQ posted a small loss and the S&P 500 was little changed. Short term overbought now on the S&P and this is the spot to try the SPY May puts. My open order remains out there but it may have to be adjusted in order to get a fill. Inflation data, the employment report and plenty of earnings due out this week. It will also be the end of the month and the start of May. I think that any strength tomorrow can be sold and I will try to buy the SPY May puts at some point. However it is possible that I'm early on this idea and that has to be factored in as well. Gold jumped $64 on the futures today. The US dollar was lower along with interest rates. The XAU was up 1 3/4, while GDX added 1/2. Volume was light. The gold shares didn't move up as much as the price of gold would imply. It seems like traders have backed off of this idea for now. The short term indicators for GDX are trending sideways. I'll still try and wait for GDX to reach short term oversold before trying the calls there. Mentally I'm feeling a bit tired. The VIX was up slightly today. It is hanging around its 50 day moving average and remains short term oversold. It can stay oversold during rallies and you could make that case now. I'll consider what action to take tonight with regards to the SPY May put idea. Europe was slightly higher and Asia generally positive to start the week. I'll keep an eye on the overnight headlines.

Buyers remain in charge as the Dow inched up 20 points on average volume. The advance/declines were slightly positive. The summation index continues higher. The overall market was much higher than the Dow with the NASDAQ continuing to lead the way. The S&P 500 closed above the daily down trend line that came in at 5500. This would be a logical spot for stocks to take a rest. But with the summation index in high gear we are probably going to make it to the 50 day moving average on the S&P. Some of the short term indicators for the S&P are now overbought. I still have my open order out there for the SPY May puts. I think at some point next week I'll be buying some of those puts. Plenty of time left in the May option cycle. Gold was off $30 on the futures. The US dollar was a bit higher and interest rates a bit lower. The XAU dipped 3 1/3, while GDX was down about a buck. Volume was average. The short term indicators on GDX are now trending sideways. Staying patient with regards to purchasing some GDX calls for now. Mentally I'm feeling OK. The VIX was lower today and closed on its 50 day moving average. It is now short term oversold. In my view things are pointing in the direction to try the SPY puts next week at some time. Trying to figure out where that point may be is the question. I'll be going over all the charts this weekend to try and figure out the answer. Europe and Asia finished Friday higher with the exception of India. It's Friday afternoon and time for a break.

Continuing higher as the Dow climbed 486 points on good volume. The advance/declines were 5 to 1 positive. The summation index is moving up. The NASDAQ continues to lead the way and that is a plus. The S&P 500 is about to attack the daily down trend line and another day like today will slice right through it. The short term indicators for the S&P are moving up and not yet completely overbought. I'm leaving my order for the SPY May puts out there. However I've priced them to attempt to be filled at the 50 day moving average instead of the down trend line given the recent strength that we've witnessed. Even that may not be the right idea as the daily down trend line could hold and a decline would start rather soon. However the upside in the summation index cannot be ignored. Plus the blowout readings in the medium term indicators meant that we had to see some kind of move higher that we are seeing right now. Gold bounced back $63 on the futures today. The US dollar was lower along with interest rates. The XAU was up 3 1/3 and GDX gained a point. Volume was average. The short term indicators for GDX are beginning to stall. My guess is that we need to see more of a correction for gold here but we'll see. I'd like to see GDX make it back to its 50 day moving average before trying the calls there but markets rarely cooperate. Mentally I'm feeling OK. The VIX was lower again today. In oversold territory now but not completely so. Almost back to the 50 day moving average on the VIX and still above the 20 level. Not sure what's coming next here. Would like to see it continue lower as stocks go higher to set up the May puts. Europe finished slightly higher and Asia was mixed overnight. We'll close out the last full trading week for April tomorrow.

We had a huge gap higher at the open but spent the rest of the day sideways to lower. The Dow gained 419 points on heavy volume. The advance/declines were around 3 to 1 positive. The summation index is moving up. The NASDAQ led the way higher and that's a plus. The S&P 500 came within thirty points of the down trend line at 5500 but backed off. I canceled my open order for the SPY May calls. The short term signals for the S&P are barely turning up with room to go. I will try and project the option premiums if the S&P makes it to 5500 and place an order tomorrow for the SPY May puts. However with the summation index now moving higher it is entirely possible that the S&P 500 will exceed the down trend line and head for the 50 or 200 day moving averages. The trading is never easy. Gold got clobbered today with the futures off over a hundred bucks. The US dollar was higher and interest rates ended mixed. The XAU dropped 3 3/4 and GDX lost 1 3/8. They did finish up from their worse levels on the day though. Volume was good to the downside once again. The short term indicators for GDX still have a ways to go before getting to oversold. We will be patient on trying the May calls there for now. The near term up trend line for GDX is all the way back at 42. I'm not sure we will get there. There is support at 46 and the 50 day moving average comes in at 44. Mentally I'm feeling a bit tired. The VIX was lower today. The short term indicators here are heading down but are not yet oversold. Ideally the VIX will continue lower and the S&P will get to 5500. Then I will have to make a decision about taking on the next trade. Volatility is still the rule as we saw with todays intra-day swings. Asia and Europe were higher overnight. We'll keep an eye on this evenings developments.

Back to the upside as the Dow roared ahead by 1016 points on good volume. The advance/declines were 10 to 1 positive. The summation index is trying to turn up again. It looks like my idea of stocks retesting the recent lows isn't going to happen soon as I had planned. My open order for the SPY May calls is still out there but another session like today and I'll most likely cancel it. The short term indicators for the S&P are mid-range and trying to turn up. Maybe we will make it back to the daily down trend line on the S&P. It's going to have to happen sooner or later. Gold had quite a reversal today as it zoomed up past $3500 overnight only to reverse and close lower. The futures lost $37. The US dollar was higher and interest rates ended mixed. The XAU dropped 3 1/3, while GDX shed 1 3/8. Volume was good on the decline. The short term indicators for GDX are starting to roll over but it's still overbought. I'd like to try the calls for GDX if it gets short term oversold again or falls to areas of support. There is not hurry as gold went parabolic and that usually does not end well. Mentally I'm feeling OK. The VIX was lower today and that fits with an up market. The short term indicators are mid-range or lower but not oversold yet. The VIX is hanging on the Bollinger band mid-range line. A break below would be a positive for stocks. Asia and Europe were generally higher overnight. We'll see what tomorrow brings.

Sellers took over to begin the week as the Dow fell 971 points on average volume. The advance/declines were around 6 to 1 negative. The summation index is in a sideways pattern. Once again a last hour push higher kept things from being worse. Both the Dow and NASDAQ led the way down. The short term indicators for the S&P 500 have rolled over with room to go. Plenty of earnings due this week and of course the ongoing tariff headlines along with Trump tirades. So there will be excuses for price movement. I still like the idea of the SPY puts if we ever make it back to the daily down trend line there. But that might require an unknown waiting period. At the rate things are going it could be a while. I'm now considering the SPY calls on a test of the recent lows around 4850 on the S&P. I did place an open order for some SPY May calls today, projecting what they may cost if we get a drop that far. I'm leaving the order out there. Not sure how this idea will pan out but we'll have to see how the rest of the week goes. Gold was up over a hundred bucks to day to a new all time high. The US dollar continues to drop and interest rates finished mixed. The XAU gained 1 1/2 and GDX added about 3/4. Volume was good for the gold shares but you would expect more of a price pop considering the move in gold. Gold itself has gone parabolic and certainly won't go straight up forever. Trying to predict the top is a guessing game though. Mentally I'm feeling OK. The VIX was higher today but not a much as you would expect. Perhaps the market is getting used to huge swings one way or the other. The short term indicators here are trying to turn back up. Still above the 30 level on the VIX as volatility is the rule. Tough trading environment. Asia was higher with the exception of Japan and Europe was mainly closed to start the week. I'll keep an eye on the overnight headlines.

It was a pretty uneventful option expiration day though the Dow did lose 519 points on good volume. The advance/declines were around 3 to 1 positive. This should turn the summation index higher. The overall market did much better than the Dow, with the S&P 500 posting a slight gain and the NASDAQ showing a slight loss. Much of teh Dow loss was due to a drop in UNH. The short term indicators for the S&P are still hanging around the mid-range level heading into a long weekend. I'm still in the camp of waiting for a good technical signal before trying the next trade. I also still like the idea of trying the SPY puts if and when the S&P makes it back to the daily down trend line. We'll be rolling into the May option cycle so premiums will be high. Gold was off a dozen or so on the futures. The US dollar finished flat and interest rates ticked up. The XAU lost about 3 3/4, while GDX shed almost a point. Volume was a bit above average. GDX remains short term overbought. Let me emphasize that gold and the gold shares have gone straight up recently and that condition cannot last. A pullback or sideways consolidation are long overdue. Gold itself is overbought on whatever time frame you choose. GDX is very far from its 50 day moving average, much more than usual. I do like the gold shares calls but not until they at least return to oversold levels. Not sure when that will happen but it will. Mentally I'm feeling OK. The VIX was lower today and the short term indicators are trying to trend down. I'm not sure where the VIX heads from here. The markets will be at the mercy of whatever news pops up during the three day weekend. I will take that time to go over the charts and try to figure out what trade to take on next. Asia up and Europe down overnight. It's Thursday afternoon and time for some rest.

The market rolled back over today as the Dow fell 699 points on good volume. The advance/declines were negative. The summation index is in a sideways trend. It would have been worse but we got a last half hour bounce, perhaps option expiration related. We are at the mercy of the next announcement of tariffs or trading barriers. That makes for an even tougher trading environment. The NASDAQ led the way down and that is not a plus. The S&P 500 opened with a gap lower and never looked back. The short term indicators here are starting to roll over. We are heading into a long weekend and I doubt we'll see a lot of buying tomorrow with all the uncertainty around. I could be wrong. I'll try and wait for at least some kind of decent technical signal before attempting the next trade. Gold soared up over $100 on the futures. The US dollar was lower and interest rates wandered higher. The XAU was up 4 1/3 and GDX gained 1 1/3. Volume was good as gold and the gold shares continue to attract capital. However they are both short term overbought and heading higher in a staight line. I'll do my best not to chase this rally for now. Mentally I'm feeling OK. The VIX was higher today which fits a down market. The short term indicators here are trying to turn back up. If successful it will mean lower stock prices in the near term. At this point we'll get through tomorrow and take it from there. Asia was mixed and Europe generally higher overnight. We'll close out the trading week tomorrow.

Sideways was the theme for the day as the Dow fell 155 points on average volume. The advance/declines were positive. The summation index is beginning to track sideways. The Dow was the leader to the downside as both the NASDAQ and S&P 500 posted small losses. The short term indicators for the S&P remain at mid-range. For me at this point it's a waiting game as I would like to try the SPY puts on a return to the down trend line. Whether or not the market makes it back there is the question. If the S&P forms a decent bottom on the daily chart that down trend line might not hold prices. There is no reason to attmept a trade this week with only two days left in the April option cycle. Gold was up $18 on the futures. The US dollar was higher and interest rates finished flat. The XAU added 1 1/4 and GDX was up 1/2. Volume was light for a change here. GDX is short term overbought. We are in a wait and see mode here. Mentally I'm feeling a bit tired. The VIX was a bit lower today which doesn't fit with a weaker market. The short term indicators on the VIX are trying to trend lower. Ideally the VIX would continue down and stocks continue up to the daily chart down trend line and we try the SPY puts. Markets rarely cooperate. Europe and Asia were up overnight. We'll see what tomorrow brings.

The short trading week started on an upbeat note as the Dow gained 312 points on good volume. The advance/declines were 4 to 1 positive. This should stall the summation index. The market did finish off of the highs for the day. The S&P 500 was the leader. The short term indicators there are mid-range so things could go either way from here. I'm waiting to see if we can make it back to the down trend line at 5600 in order to try the SPY puts. Don't think that we'll get there this week. Doubt I'll be trying anything here with only three days left in the April option cycle but you never know. Gold dropped $16 on the futures. The US dollar continues to fall and interest rates dipped. The XAU rose 1 3/4 and GDX added 1/4. Volume was average. GDX is short term overbought. I'll wait for a pullback here as GDX is both short and medium term overbought. There seems to be no shortage of money that wants to be in gold though. Mentally I'm feeling OK. The VIX was lower today which fits an up market. The short term indicators here are pointing down at the mid-range level. The VIX is still above 30. I'd expect it to move lower as stocks move higher in the near term. However we are at the mercy of the next tariff headline and that makes for tough trading. Perhaps the most we can hope for is some sideways price action before the next trend gets going. Europe and Asia were higher to begin the week as well. We'll keep an eye on the overnight trading activity.

Moving higher to end the week as the Dow gained 619 points on heavy volume. The advance/declines were better than 2 to 1 positive. The summation index is still moving lower. The NASDAQ led the way higher. The short term indicators for the S&P 500 remain mid-range. I expect that the recent lows on the S&P will hold for a while. It will take time for the medium term indicators to work their way up from blown out oversold levels. However there is a down trend line in effect at 5600 for the S&P. If we can get back to that, I'll try the SPY puts. Option expiration week is on tap and it is a day less with a holiday next Friday. So with only four days left in the April option cycle the risk is probably more than I want to endure. Gold continued its great week as the futures added another seventy bucks to a new all time high. The US dollar was lower and interest rates were higher. The XAU gained 10 3/4 and GDX was up 2 1/2. Volume continued on the heavy side for the gold shares. Gold and the gold shares are moving straight up now and are pretty far from their 50 day moving averages. I do still like the idea of the gold share calls but will have to wait for some kind of rest or pullback before attempting the May calls there. GDX just went up over 20% in a week and that isn't something that usually occurs. We cannot project that type of performance out into the future. When things go straight up thay can also go straight down so we don't want to be long if that happens. However money has poured into gold and it's entirely possible that will continue given the geo-political backdrop. Mentally I'm feeling OK. The VIX was lower today and that fits with an up market. The short term indicators here are mid-range with some moving sideways. Not sure what's next for the VIX but it remains elevated so volatility should continue. We are also in a headline risk atmosphere more than usual that goes both ways. Being nimble and taking no big chances are still some of the ideas to remember. I'll be going over the charts as usual this weekend but probably not planning any short term trades for next week. Asia was mixed and Europe generally lower to close out the week overseas. It's Friday afternoon and time for a break.

Sellers returned today and that wasn't unexpected as the Dow fell 1014 points on very heavy volume. The advance/declines were 8 to 1 negative. The summation index continues lower. A lighter than expected inflation report didn't matter as we had a gap down at the open. The NASDAQ led the way lower. The short term indicators for the S&P are starting to roll over. I did place an order for some April SPY puts overnight but it wasn't filled. I canceled the ticket this morning. The S&P did not make it back to the down trend line in place but yesterdays huge jump was out of the ordinary and more selling was to be expected. I do not think we will be taking out the recent lows here as the medium term indicators are blown out to the downside. Sideways would be a step in the right direction but if we do make it back to the down trend line for the S&P I'll try the puts there. Volatility is the rule for now and option premiums are expensive. Gold jumped over $100 on the futures today. The US dollar was lower and interest rates finished mixed. The XAU gained 6 1/4 and GDX was up over 2 1/8. Volume remains heavy for the gold shares as money contiues to flow here. I canceled my open order for the GDX May calls because GDX has moved over 10% in two days and the order has no chance of being filled. I still like the gold shares despite the recent jump and will try for the May calls here again on a pullback. The short term indicators for GDX are moving up and still have room to go. GDX is medium term overbought as well but we cannot deny the interest in this sector. Mentally I'm feeling OK. The VIX bounced around today. It made it up to almost 55 before dropping back and finishing around the 40 level. The short term indicators on the VIX are stalling near the mid-range level. I'm not sure what's next for the VIX. Anything goes in this level of volatility. Pay attention, be nimble and don't risk a lot at this moment in time. Europe and Asia were higher overnight with the exception of India. We'll cose out a wild week on Wall street tomorrow.

An explosive rally took place today as the Dow took off halfway through the session when it was announced that tariffs would be put on hold for some countries for ninety days. So we can all do this again in three months? The most watched index gained an unprecedented 2962 points on extremely heavy volume. The advance/declines were 15 to 1 positive. The summation index is still heading lower. The NASDAQ gained 12% in one day. The S&P 500 was up almost 10%. Plenty of buying and short covering to be sure. The short term indicators for the S&P turned back up and made it to mid-range in a day. It looks like the longer term up trend line that came in at 5000 is going to hold for now. Medium term indicators on the market had gotten blown out to the downside, so some kind of turnaround was due. But all in one day? It is a volatile environment so don't be surprised if the S&P is down a couple hundred points again in the near future. The down trend line for the S&P is at 5600 and if we get there I'd certainly think about trying the SPY puts. Gold blasted off as well as the futures were up $120. The US dollar finished flat and interest rates ticked up. The XAU was up 14 points, while GDX climbed 3 3/8. Volume was heavy to the upside. It looks like I've missed the GDX call trade again but I'm leaving my order for the May calls out there. The price swings for stocks and commodities are so huge right now that you really have to be nimble and just take quick profits or losses. It goes without saying that the risks right now are much higher than usual. Mentally I'm feeling OK. The VIX collapsed and dropped over 18 points. The short term indicators are heading down with room to go. So it appears that 60 will be the top for this extended move higher on the VIX. A huge rally in the market out of nowhere is a characteristic of a falling market. We certainly saw that today. However since the medium term technical indicators were so extended to the downside it doesn't mean that we are going to turn around and make lower lows right away. Those indicators will have to rise before they can fall again. I certainly don't think we are going back to new all time highs anytime soon but what do I know? Asia was mixed and Europe down overnight. I'd expect foreign markets to rally tonight. We'll keep an eye on overnight headlines.

Another volatile day on the street as we opened with a big gap higher only to give it all back and then some. The Dow fell 320 points on very heavy volume. The advance/declines were 3 to 1 negative. The summation index is heading down and past the zero line as things have fallen apart. A late 15 minute bounce kept things from closing lower. The NASDAQ led the way down. As long as that continues it will be hard to get things to calm down. The S&P 500 continues to flirt with the longer term up trend line at 5000 and today closed just below it. It is important for the bulls for this line to hold. The S&P remains short term oversold. I'm looking for some kind of bounce here but todays certainly didn't hold. Getting ready to call a bear market for the S&P 500 if it closes below 4920. If the 5000 level doesn't hold we'll get there. No SPY trades for now as the volatility has gotten out of hand. Gold was up $25 on the futures. The US dollar was lower and interest rates finished mixed. The XAU lost 1 1/2 and GDX ended the day flat. Both finished well off of the highs for the session. Volume was average. GDX is now short term oversold. I'm leaving my order for the GDX May calls out there. The gold shares continue to follow the moves of the overall stock market. Mentally I'm feeling OK. The VIX bumped back up today and closed above 50. The short term indicators remain overbought. I thought the top for the VIX would be the 60 level we recently hit but that might be wrong. Volatile times to be sure. Can't rule anything out at this point I guess. Look for opportunities but remember that the risks here are higher than normal. Asia and Europe were both higher overnight. I'll keep an eye on this evenings developments.

Trying to stabalize things here but the Dow still fell 349 points on very heavy volume. The advance/declines were 4 to 1 negative. The summation index continues down towards the zero line and will pass through it decisively tomorrow. We had another huge gap down at the open and then traded all over the place with sharp gains and sharp losses. The overall market did much better than the Dow with the NASDAQ barely ending the day in positive territory. The S&P 500 had only a slight loss. It is now short term oversold on the indicators that we use. At one point today it was in bear market territory but closed above that. A lot of questions about what comes next without any clear answers. We are seeing a big volume washout here in my view so the downside from here could be limited for now. That doesn't mean there will be some kind of strong rally back to the highs from here. The up trend line of the bull market from October 2022 lies at 5000 and it still intact for now. Will it hold up for the rest of the week? We'll see. Gold got clipped over fifty bucks on the futures. The US dollar was a bit higher and interest rates went up. The XAU and GDX finished with fractional moves one way or the other on good volume. The gold shares bounced around following the overall market. I did place an overnight order for some GDX May calls and it wasn't filled. I'm leaving it out there. I don't think that I'll try the April calls for GDX but I could change my mind. Mentally I'm feeling a bit tired. The VIX made it all the way up to 60 today before falling back. I think that will be the high for this round of volatility. It still reads in the forties as we have seen things fall apart. The VIX is short term overbought on what we look at and I'd be surprised if it gets back to the 60 level here soon. I'm not saying that stocks can't go lower from here but some kind of pause in the decline looks to be in the works. I could be wrong. Asia got crushed and Europe clobbered to begin the trading week overseas. We'll see what happens on Tuesday.

We went from tariff tantrum Thursday to free fall Friday as stocks got clobbered again. The Dow fell 2231 points on extremely heavy volume. The advance/declines were 10 to 1 negative. The summation index is moving down. The NASDAQ made it to bear market territory as it has now fallen over 20% from its recent all time high. Since it is usually the leader we can expect the S&P 500 to join it. That level for the S&P is 4920, which is below the longer term up trend line at 5000. At the rate things are going we'll get there on Monday. Today was the high volume very negative day wash out that we look for in declines such as this. Usually over the weekend the powers that be figure out how to prop things up near term so it doesn't get any worse. That is what we'll be looking for at some point on Monday. The S&P 500 is short term oversold but heading straight down on the daily chart. If it can't hold up at 5000 the next support is at 4675-4600. The 200 week moving average and another area of support comes in at those levels. It is unfortunate not to own some SPY puts here however option premiums have exploded. We have been down this road before and opportunities will continue to present themselves. Gold dumped $64 on the futures. The US dollar was higher. Interest rates were barely lower and finished well off of their lowest levels for the session. The XAU crashed over 17 points and GDX fell 4. Volume was extremely heavy in a downside blow out. The short term indicators for GDX are moving lower with room to go. The up trend line for GDX that had been in place since the beginning of the year was broken. GDX now lies just below the support of the 50 day moving average. The lower Bollinger band support is at 41. The 200 day moving average is at 38.5. I still like the gold share calls because in market declines like this everything gets sold as margin calls must be met with whatever you have that is worth something. I will be looking at the GDX May calls over the weekend as the potential next trade. Perhaps the GDX April calls as well but we'll see. Mentally I'm feeling OK. The VIX shot up again and closed at the 45 level. The short term indicators are overbought. The VIX usually does not stay at high levels for very long. That said, in this decline there is no telling where the VIX may end up. There will be plenty of work to do over the weekend to try and come up with a game plan for next week. Staying on the sidelines until things settle down is a choice as well. It is a worldwide head for the exits as overseas markets got smashed too. China was on holiday. It's Friday afternoon and time for a break.

The market threw a tariff tantrum today as stocks suffered huge losses. The Dow fell 1679 points on very heavy volume. The advance/declines were 7 to 1 negative. This will turn the summation index back down and on its way to the zero line. The tariffs that perhaps were going to give us some clarity instead have created even more uncertainty. The was a giant gap down at the open and stocks never came back. The NASDAQ fell over 1000 points or 6% for the session. It led the way lower. The S&P 500 lost roughly 275 points. The previous near term lows were taken out. The short term indicators here are moving back lower with room to go. Not sure how low we'll go here on the S&P. There is some support at 5200 and the longer term up trend line that began at the bottom in 2022 comes in at 5000. Either target is in play as is looks like we'll be going through the zero line on the summation index. The down trend line on the S&P daily chart is still in charge. Gold dropped $37 on the futures but did come back from the worst levels on the day. The US dollar was lower along with interest rates. The XAU fell 3 points, while GDX ended the day flat. Volume was good. They both ended up from their lows as well. I did place an order overnight for some GDX April calls but canceled it before the bell when GDX was about to open 4 1/2% lower. I did try again for some calls later in the day but my order wasn't filled. The short term indicators for GDX are starting to trend lower. However money is still finding a home in gold and I'd like to try the calls here if GDX can get back to its up trend line that began in January. One caveat is that GDX is both short and medium term overbought. However it can stay that way during rallies and we are in one now for gold. Mentally I'm feeling OK. The VIX jumped today and closed at the 30 level. The short term indicators are now moving up and getting to overbought territory. The daily candlestick chart that I thought was going to go lower has completely turned around. You can expect more volatility in the days to come and I'm not sure how high the VIX will go. Tomorrow we've got the employment report and then a speech by the Fed chairman. So it should be a wild end to the trading week. Still two weeks to go in the April option cycle. However option premiums are high and the environment is even more uncertain than usual. There will be opportunities though. Europe and Asia sank overnight. We'll close out the week tomorrow.

A back and forth session ahead of the after the bell tariffs news but the Dow managed a gain of 235 points on average volume. The advance/declines were better than 2 to 1 positive. This should turn the summation index back up. The NASDAQ led the way again today and that remains a positive. The short term indicators on the S&P 500 are now trending higher. The S&P remains below its 200 day moving average and the short term down trend line. However I am still more inclined to believe that we'll be heading higher in the near term. I could be wrong. Once we get past the tariff event there's still the jobs report on Friday to deal with. Gold was up $18 on the futures. The US dollar was lower and interest rates ticked up. The XAU was up 5/8 and GDX finished flat. Volume was light. GDX has trended sideways for a week. The daily candlestick chart here looks like it wants to go higher though GDX remains short term overbought. I'm still on the side of waiting until it returns to the short term up trend line at 43 before trying the calls here. Mentally I'm feeling OK. The VIX was a bit lower today. The short term indicators here are now at mid-range. So it appears the VIX is poised now to move either way. The daily candlestick chart here still looks like it wants to move lower. We'll see how the markets react to the tariffs details and take it from there. Asia was generally higher and Europe down overnight. Tomorrow should be interesting.

Waiting on the tariffs as the Dow dropped 11 points on average volume. The advance/declines were positive. The summation index is still trending lower. The NASDAQ was the leader today and that is a plus. I'm getting the feeling that we have at least put in a short term low here and we'll challenge the short term down trend line on the S&P soon. The short term indicators for the S&P 500 are trying to turn up. It looks like weakness today should have been bought but we'll have to see what tomorrow brings. But it is possible that for now the market is sold out. Gold finished flat on the futures. The US dollar ended flat as well, while interest rates were slightly lower. The XAU and GDX had slight fractional moves one way or the other on light volume. The short term indicators for GDX remain overbought. We'll see how gold reacts to what comes out of the tariff news tomorrow. Mentally I'm feeling OK. The VIX was a bit lower today. Some of the short term indicators here are starting to move sideways. I'm still thining that the VIX will move lower and stocks higher in the near term. One thing that the market does not like is uncertainty. Getting the tariff news out of the way will take care of some of that. So I would not be surprised if we see some buying tomorrow regardless of what the tariffs are. We'll see. Europe and Asia were higher with the exception of India. We'll see how things go tomorrow.