Still heading down as the Dow fell 793 points on heavy volume. The advance/declines were better than 3 to 1 negative. The summation index is moving lower. It is heading for the now inevitable crossing of the zero line to the downside. Stocks will continue to drop, we just don't know how far. Unless the Iran war ends all of a sudden but we are not counting on that. The NASDAQ is still leading the way down and that's a negative. The S&P 500 dropped over 100 points again. The short term indicators here are oversold and staying that way. The next area of support for the S&P comes in around 6100. However we are not going to try and predict the bottom at this time. Option premiums remain high. Gold was up $134 on the futures. The US dollar was higher and interest rates finished mixed. The XAU gained 12 1/4, while GDX added 3 1/2. Volume was good. Today was the first time in a while that we saw the gold shares higher when the overall market was lower. Take note. It appears that the decline in gold is over. The short term indicators for GDX are trying to move up. We will be looking for any near term pullback in GDX to try and purchase the April calls. This looks to be the next trade. The fact that gold itself recovered what it lost yesterday is a plus for the precious metal bulls. Mentally I'm feeling OK. The VIX was higher today and is now above 30. It usually doesn't stay that high for long but with the current technical condition of the market, who knows? The short term indicators here are into overbought territory. Plenty of work to do over the weekend as we try and come up with the best trading scenario moving forward. I'll be checking the charts as usual. Also a short trading week on tap as exchanges will be closed on Friday the 3rd. Asia was mixed and Europe down to end the week. It's Friday afternoon and time for a break.