The S&Ps opened up a touch and then began a slow grind higher that would last for the rest of the session. For the close, the S&Ps would go out just off the highs with a gain of over half a percent.

Interestingly, AI-crap slipped again, especially the chip-related names, with the SOX sliding half a percent.

The dollar was mixed and little changed, with the DXY adding a touch. BTC rose half a percent.

Yields rose slightly, although they still appear to be topping (at least for the time being).

Commodities were mostly higher, including crude despite Trump announcing Russia would supply more diesel to the market, which the US would remove from sanctions. Industrial metals gained a couple percent for the most part.

Gold and silver both popped and took out their near term downtrends with gains of 1.6 percent and 2.5 percent respectively.

The GDX popped as well and took out its near term downtrend to gain 3 percent.

I think we saw a low for the metals and miners this past week, but we won't have confirmation until we take out the October 2nd highs ($4230 spot gold and $62 spot silver). And as is typical, once we do take out that level and get confirmation of a swing low, a pullback generally shows up. They never make it easy.

So let's see what happens next week, but keep in mind that Monday is a US government holiday. Thus, fixed income will be closed. However, the rest of the casino is open for business as usual.

Positions: Short SPY, QQQ, MDY, and IWM. Long IBIT, STRC, and DBA.

Metals: Long GDXU and AGQ. Long SLV 56 calls for Monday, and I added some more on Friday to bring my average up to 10 cents from 6 cents.