A mixed bag to start the week as the Dow gained 213 points on good volume. The advance/declines were positive. The summation index is still moving higher. Both the NASDAQ and S&P 500 opened with a gap higher only to end the day lower resulting in one day downside reversals. The NASDAQ continues to lead the way down, off 1% today. The S&P had a modest loss and the short term indicators here are getting to oversold. I'm not exactly sure what's going on here but we can see that the market is in trouble. US elections tomorrow and the jobs report on Friday will most likely be market movers. The S&P 500 is breaking down from a channel formed on the daily candlestick chart that began in August. The longer term up trend line comes in at 7400. Gold bounced today with the futures up $57. The US dollar was slightly lower along with interest rates. The XAU was up 7 1/8, while GDX gained 2 points. Volume was a bit above average. Some of the short term indicators for GDX have turned up but they remain oversold and GDX finished off of its highs for the session. My GDX November calls continue as solid losers. I'm still looking at a cut the loss trade here. Mentally I'm feeling OK. The VIX was higher today and closed above the 20 level. This is another reason why the market is facing problems on the long side here. The short term indicators for the VIX are moving up with room to go before hitting overbought. So volatility will be a theme for now. Plenty of time left in the November option cycle but I don't have any SPY option trades in mind at the moment. Europe and Asia were higher overnight with the exception of Japan. We'll keep watch on this evenings developments.