We begin the month of June on a mixed note as the Dow gained 46 points on heavy volume. The advance/declines were better than 2 to 1 positive. The summation index is trending higher. The Dow was up over 300 points in the first five minutes and spent the rest of the day selling off. The NASDAQ and the S&P 500 finished the day with slight losses. The S&P remains short term overbought on the majority of its indicators. I'm not sure what is about to happen here with stocks but I hope to have a clearer picture before Fridays employment report. GE was up almost a dime and the volume was light. Gold was off $7 on the futures. The US dollar was slightly lower and interest rates ticked up. The XAU gained 1 2/3 but GDX only edged higher by 1/8. Volume was light. My open order for the GDX June calls remains out there. GDX also remains short term overbought and in a sideways trading channel. Mentally I'm feeling OK. The VIX bounced up today but remains below its 50 day moving average. Still oversold here but the VIX can stay that way for quite some time as it has in the past. If that's the case we'll see a rally at some point this week. But you can't really predict for certain what the indicators will do, hence my hesitation on taking a position in the SPY right now. Todays price action certainly wasn't bullish for the S&P by opening much higher and settling for a loss on the day. That's actually a one day reversal to the downside. I'm also not sure what the heavy volume today has in store for us going forward. So I'll be on the sidelines for the SPY for now and keep an eye on gold as we make our way through the week. Asia was mixed and Europe higher overnight. We'll see how things go tomorrow.