Sellers took over today as the Dow fell 308 points on good volume. The advance/declines were better than 3 to 1 negative. The summation index is now moving down. We'll take our cues from there and move back to a cautious stance. My overall bullishness is over. Unless we see a dramatic upside day tomorrow prices are most likely headed lower from here. How can things change in just one day? It's the nature of the game. The market knows everything and todays price action was anything but positive in the recent scheme of things. The short term indicators for the S&P are starting to roll over again. GE lost 1/2 on what is now considered average volume. Gold fell over ten bucks as the US dollar had a strong session. The XAU dropped 4 7/8, while GDX lost 7/8. Volume was light. The short term indicators for GDX have now rolled over. This may be the opportunity to get some of the GDX April calls on a pullback. Or not. There's always the possibility that this is the beginning of another leg down for gold and the gold shares. GDX once again could not get through the 50 day moving average. Unless there's a complete collapse here, I'll probably be trying the calls. I may even leave in an open order overnight. Mentally I'm feeling a bit tired. The VIX, which looked so promising yesterday, has now closed back above the 20 level. Still short term oversold here and we'll know more in the coming sessions about what is going on here. We haven't been able to sustain being under 20 yet. So the market is at an interesting juncture that should sort itself out by the end of the week hopefully. I'm not going against the summation index though and it's pointing to lower prices. So we'll see. It was noted that interest rates were lower today but that didn't help equities. Europe and Asia were generally down. We'll see what tomorrow brings.