The market tried to hold on all day but couldn't as the Dow lost 115 points on average volume. Advance/declines were over 2 to 1 negative. The S&P 500 closed below the 1060 level. We have crossed the zero line in the summation index. There are no compelling reasons to buy stocks here. In my mind it is a question of just how low are we going to go here. It will be interesting to say the least. We could really start to fall apart. Gold saw safe haven buying as it rose over $20 and is knocking on the door to a new all time high. The XAU was up over 3 points. ABX gained 1 3/4, GG was higher by almost 2 and NEM rose 1 1/2. Volume was average. I placed an early order for some ABX calls but it wasn't filled. I'm still a believer here though and am leaving in an overnight order for the ABX calls at a higher strike price. The Gold/XAU ratio remains on a buy signal even with the positive action today. I don't like to chase things but I'll make an exception this time. Of course it could just blow up in my face with less than 2 weeks to go in the June option cycle. Not to mention the possibility of a market free fall here that will take the gold shares with it. So we'll see. Mentally I'm feeling OK. Looked over everything this weekend and decided that the gold shares were the place to attempt a trade. Might be too late, time will tell. Looking over the stock indices, I think that this will be the drop that will complete a 5 wave pattern to the downside from the April highs. That's what it appears to me. It will set up for some type of sideways or upwards trend for the beginning of the summer before we head lower again. That's my guess at the moment. We'll see what tomorrow brings.