We did see some upside follow through to Fridays huge gains but the Dow only managed a gain of 20 points on heavy volume. The advance/declines were positive. The summation index is trying to move higher. The NASDAQ was by far the leader today and that is a plus for the bulls. The S&P 500 is poised to make a new all time high. The short term indicators there are now trending higher with room to go. Plenty of earnings and economic data due this week so there will be excuses for market movement. I'm in the bullish camp for now regarding the S&P. Gold was up $123 on the futures to close back above the $5000 level. The US dollar was lower and interest rates finished little changed. The XAU gained almost 23 points and GDX was up 5 1/2. Volume was above average to the upside. Has the decline for gold and the gold shares ended already? That is the question we are dealing with. The short term indicators for GDX are now moving higher with room to go. I'm still considering the GDX February puts and will think about putting in a overnight order for them. But we also have to consider the possiblity that the sharp decline we saw a week ago may be it for the downside as the parabolic move higher stalled. As usual the trading is never easy. Mentally I'm feeling OK. The VIX was lower today which fits an up market. The short term indicators here are trending lower and not yet oversold. The VIX seems to be supporting higher stock prices going forward for now. Asia and Europe were higher to begin the week as global funds return to stocks. We'll see how things go tomorrow.