A positive start to the week for the overall market but not the Dow as it fell 25 points on heavy volume. The advance/declines were negative. The summation index is trying to turn back up. We had a big gap higher to get things going but then eventually sold off for the rest of the day. Even so the NASDAQ led the way with a gain of over 1%. The S&P 500 did cut its gain in more than half for the session. The short term indicators here are still moving up. It looked like we missed our chance for the SPY January calls but the S&P was turned back by its short term down trend line of resistance at around the 6000 level. I suspect that we'll get through that area at some point before option expiration. So if we continue lower in the near term that might give us the opportunity to purchase some SPY January calls. That is the game plan at the moment. Gold was off ten bucks on the futures. The US dollar was lower and interest rates finished mixed. The XAU dipped 1 1/3, while GDX was off 3/8. Volume was light. The short term indicators for GDX are beginning to roll over. No GDX trades for now. Mentally I'm feeling OK. The VIX was lower but not by much. Still hanging around the 200 day moving average here. The short term indicators on the VIX are beginning to track sideways. Not sure what's next here but I would not be surprised if the VIX continues lower. One less trading day this week and the jobs report looms on Friday. Running out of time in the January option cycle but if things line up I'll be trying the SPY calls. Asia was mixed with big losses in Japan and India. Europe was higher. We'll keep an eye on the overnight developments.