We had a one day downside reversal for most stock indices today as the market opened higher and closed lower. The Dow lost 41 points on heavy volume. The advance/declines were about even. The summation index is still trending higher. Once again the NASDAQ led the way lower and that is not a plus for the bulls. It did close just below its 50 day moving average. That said I did consider purchasing some SPY December calls but decided to stay on the sidelines for now. The S&P 500 was a bit lower and the short term indicators here have turned down. Still short term overbought here. Plenty of economic data out tomorrow including the jobs report. So we should get some decent market movement on Tuesday. Gold was up $7 on the futures. The US dollar was barely lower along with interest rates. The XAU dipped 1 1/3 and GDX shed 3/4. Volume was average. The short term indicators for GDX are trending lower. No GDX trades in mind at the moment. Mentally I'm feeling a bit tired. The VIX was up today which fits with a down market. The short term indicators here remain oversold but they have turned up. I'm still not sure what's next for the VIX. Only four days to go in the December option cycle and it doesn't look like I'll be putting on a trade. We'll see. Europe up and Asia down to begin the week overseas. I'll keep an eye on tonights headlines.