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.