The Dow continued lower today as it lost 86 points on good volume.  The advance/declines were 2 to 1 negative.  We did open higher and close lower again.  However we did come off of the lows for a mid-range of the day close.  Perhaps we'll see an attempt at a bounce tomorrow.  But the summation index continues lower.  Plus we have the jobs report on Friday, so I think traders could be wary of a position before that.  The McClellan oscillator is now in an area where it has bounced in the recent past.  The S&P 500 closed right on the near term support.  The next level in my mind would be 2050.  GE was off 1/8 and the volume was light.  Still waiting to get the calls here.  Support at $26.50 and then $26.  Gold fell a couple bucks on the futures despite a huge drop in the US dollar.  That isn't bullish for the precious metal.  The XAU lost 1 1/3, while GDX declined 1/2.  Volume picked up a bit.  Gold should be rallying when the dollar drops like it did today.  The usual relationships here between the US dollar, gold and the gold shares are not happening.  I don't know what that means but it is harder to try and trade here when the conditions are like this.  Not even close to being oversold yet for the gold shares so patience is still advised.  Mentally I'm trying not to be too down on myself for missing this shorting opportunity.  But it just goes to show you the type of dedication and hard work that must be put in to be successful in this game.  Even when doing that, you're not going to see every trade.  The small caps held up better today so there's a chance that perhaps the recent decline is closer to the end.  That's a guess as usual.  The foreign markets are losing ground here as well so perhaps there is some coordinated liquidation occurring.  Time will tell.  I suppose the next main event will happen on Friday when we get the employment report.  No telling how the markets will react to that.  If we get an oversold signal on the S&P 500 in the coming days, perhaps a bounce trade can be attempted before the May expiration.  We'll keep an eye on the overnight developments and take it from there.