2025 ends with a thud as the Dow fell 303 points on light volume. The advance/declines were 3 to 1 negative. The summation index is now moving lower. It appears that we are too late for the SPY January puts but we'll see. However we are almost back to short term oversold on some indicators, which would set up a call trade for the beginning of next year. I'll go over things tomorrow and take it from there. The Santa Claus rally is fading away though. I do expect beginning of the year buying on Friday. Gold was off sixty bucks on the futures. The US dollar finished unchanged and interest rates rose. The XAU fell 4 3/4, while GDX dipped a point. Volume was light. The short term indicators for GDX are back to moving lower. Mentally I'm feeling OK. The VIX was higher today which fits the down market. The short term indicators here are now moving up from oversold. This supports the idea for the SPY puts. But again, we'll look at things on the day off tomorrow and go from there. Asia was lower with the exception of India. Europe was slightly down with the exception of the DAX. Happy New Year to all.