Stocks continued to jump higher today as the Dow gained 507 points on heavy volume. The advance/declines were around 3 to 1 positive. The summation index is now moving up. The Middle East ceasefire has already been violated but the market doesn't care. The NASDAQ led the way up and that's a plus. Some of the stock indexes are just about at new all time highs. QQQ made it there. Another day like today will do it. The S&P 500 is up against its upper Bollinger band. The short term indicators here have turned higher and are not yet overbought. At this rate a new all time high should be put in sometime this week. We've got the Fed chairman on capital hill tomorrow which might provide a pause in the rally. Inflation data on Friday should be benign. Gold dropped $57 on the futures as peace in the Middle East does not support gold. The US dollar was lower along with interest rates again. The XAU fell 4 points and GDX shed 1 1/4. Volume was average. The gold shares did finished up off of their worst levels on the day. So there is still some interest in owning the gold shares. The short term indicators here are back to moving lower but are not yet in oversold territory. If and when GDX gets to oversold we will have to make a decision on whether or not to try the calls there. Mentally I'm feeling OK. The VIX was lower today and the short term indicators are heading lower. Not short term oversold just yet. The VIX still seems to imply that it is all clear for higher stock prices in the near future. We'll see. It has been quite a rally to begin the week as the bulls are in charge. Can they keep it up? Asia and Europe were both higher as buyers around the globe stepped up. We'll see how things go tomorrow.