It was a down day to end the week as the Dow dropped 115 points on good volume. The advance/declines were negative. The summation index could start to head back down with todays action. However the S&P 500 is at its 200 day moving average and could be putting in a double bottom here on the daily charts. On the other hand, we did not follow through to the upside after yesterdays comeback in the stock indices. What I'm trying to say is that I have no clear direction of the markets next move. The technicals remain neither overbought or oversold. GE was lower today by 40 cents on good volume and is clearly below the 2oo day moving average. I've been using GE as a proxy for the overall market. It is saying that we are heading lower. GE is oversold here however. Gold fell around $20 today and the XAU dropped 4 1/2. The dollar had another good day and the weekly downtrend line has been broken to the upside. Gold had a pretty dismal week. ABX lost a buck, while GG and NEM each lost around 1 3/4. Volume was good. The RSI buy signal for ABX did not last long. My next line of thinking on the gold shares is perhaps the July GG puts. Not exactly sure on this either but will consider it over the weekend. Mentally I'm a bit tired, did not sleep well. An interesting week in the stock indices to be sure but that doesn't help the trading for me. I really need to pay more attention to exactly what is going on here. End of the month approaching next week. Plenty of economic data as well. Plus there's the problems over in Europe that seem to have the markets interest at the moment. Gold is going to try and hold the $1500 level in my opinion. But will it? That's another question that needs to be answered. So there will be plenty to ponder over the weekend to come up with a successful game plan for next week. It's Friday afternoon in the summer and time for a break.