Back to the upside as the Dow climbed 340 points on good volume. The advance/declines were slightly positive. The summation index is moving higher. The NASDAQ led the way today and that's a plus. Both the NASDAQ and S&P 500 closed at new all time highs. There is no overhead resistance. The short term indicators for the S&P are stuck in overbought territory. It appears that we had a two day pause in the rally and it has now resumed. But today the TRAN got killed with a huge move lower and that is something to keep an eye on. Gold was up $40 on the futures. The US dollar was higher and interest rates up just a touch. The XAU rose 6 1/2 and GDX was up around 1 1/2. Volume was light. The short term indicators for GDX are beginning to stall and have not reached oversold territory yet. I did place an open order for the GDX May puts overnight and I'm leaving it out there. However if the indicators start to move up I will cancel that order. Mentally I'm feeling OK. The VIX was down today and that fits with the overall higher market. The short term indicators continue to hang around the oversold area. As long as the VIX remains below the 20 level we can conclude that the rally still has legs. News out of Iran doesn't move the markets as much now as it did before. We'll see if that trend continues. Asia finished mixed and Europe was down again overnight. We'll see what tomorrow brings.