A short and quiet trading day as the Dow gained 289 points on very light volume. The advance/declines were better than 2 to 1 positive. The summation index is moving up. It was a great week to be long the market. The S&P 500 has made it above its short term down trend line albeit on light volume. The short term indicators are not yet completely overbought. We are getting a sell signal from one of our indicators but my thinking is that we're heading for new all time highs. I'll consider things over the weekend. Gold was up $44 on the futures. The US dollar was a bit lower and futures rates a bit higher. The XAU was up 7 3/4, while GDX added 1 3/8. Volume was light. GDX is short term overbought on some of its indicators. It looks poised to hit a new 52 week high. Mentally I'm feeling OK. The VIX was lower and closed below 16.5. It is now short term oversold but can stay that way during rallies like the one we are currently in. We'll look over the charts this weekend but it appears that we are in rally mode until further notice. Asia was mixed and Europe a bit higher to close out the week overseas. It's a half day Friday during a long holiday weekend and time for a break.