All aboard as the market train keeps chugging along. The Dow continues to lag though as it fell 67 points on heavy volume. The advance/declines were negative. The summation index is trying to move lower. The NASDAQ led the overall market higher once again and that is a plus. Both the NASDAQ and S&P 500 closed at records again. There is no overhead resistance. The thesis of stocks moving higher into the Friday option expiration appears to have been correct. The inflation data came in much worse than expected. After a brief decline in the first half hour buyers took over and stock markets moved up. Markets that ignore bad news are going to go higher. We don't know why but markets always know more than we do. The S&P 500 remains short term overbought as it has been for over a month. This isn't business as usual as the angle of ascent remains very steep. Breadth hasn't been good lately and the rise will end at some point but we are not going to try to guess when that occurs. All ideas for the SPY May puts are off. We will look out to June and the option premiums there have an extra week on them. Gold was up $8 on the futures. The US dollar was higher and interest rates finished flat. The XAU lost 1 2/3, while GDX shed 7/8. Volume was light. Some of the short term indicators for GDX are now overbought. I am still considering the GDX June calls. Mentally I'm feeling OK. The VIX was a touch lower today. The short term indicators here are continuing to rise despite the rally in stocks today. Not sure what's going on here with the VIX. I haven't had a good handle on this indicator lately. We'll get retail sales tomorrow and probably some news out of the US/China meetings. It looks like I won't be making any trades during the May option cycle. Asia and Europe were higher overnight. I'll keep an eye tonights headlines.