Sellers returned today and the Dow fell 797 points on heavy volume. The advance/declines were better than 3 to 1 negative. The summation index is back to a stall. The NASDAQ led the way lower and has been the weakist link lately which isn't a good sign for the bulls. It looks like my idea of new all time highs for the S&P 500 in the near term were wrong. That index got clocked today as well, down over 100 points. The short term indicators here have rolled over with room to go. We were not totally convinced that things would continue higher after bouncing off of the 50 day moving average on the S&P but it looks like we've missed the chance for the SPY November puts. If we continue lower tomorrow the weekly chart on the S&P will have a bearish look as well. Not exactly sure what is going on here but the market always know more than we do. Gold dropped $48 on the futures. The US dollar was lower and interest rates ticked up. The XAU fell 8 points, while GDX shed 2 1/4. Volume was heavy heading lower. The short term indicators for GDX have started to turn lower. Not sure where the gold shares are headed next. I don't have any GDX option trades in mind right now. Mentally I'm feeling OK. The VIX was up today which fits the down market. It closed at the important level of 20. The short term indicators are back to moving up with room to go. The VIX is bouncing from its 50 day moving average that it could not get through. That is not a positive for stocks. Running out of time in the November option cycle but we won't try anything just for the sake of making a trade. Asia higher and Europe lower overnight. Tomorrow should be interesting.