A mixed bag to begin the week as the Dow fell 151 points on average volume. The advance/declines were negative. The summation index is moving sideways. The NASDAQ was strong today and it set a new all time high as did the S&P 500. These two indices remain short term overbought. We did get another signal from the McClellan oscillator on Friday for a big move within the next two trading sessions. We'll see if that bears fruit tomorrow. It appears as though we are seeing a lot of the end of the quarter, first half positioning taking place. I'm still considering the SPY July puts but waiting on Wednesday at this point. GE was off 1/4 on average volume. Gold finished little changed on the futures as was the US dollar. Interest rates dropped. The XAU fell 1 1/2, while GDX shed 3/8. Volume was light. The gold shares are underperforming and that's bearish for this sector. No GDX trades in mind for now. Short term oversold and staying that was for the gold shares. Mentally I'm feeling OK. The VIX was up slightly today and remains oversold be not decidedly so. I'm inclined to give the market a couple more days before trying the SPY July puts ahead of the jobs report. The market rarely cooperates though. TRAN and Russell 2000 down today as we're getting mixed signals about what is going to occur. It is hard to be too bearish with both the NASDAQ and the S&P 500 at new all time highs. We could also slip back into summer doldrums mode which would not be a help to either side of the options game. Asia was mixed with Europe lower overnight. We'll keep an eye on the overnight headlines.