An interesting session today as the Dow was down for much of the time but managed to finish in the black. It ended up 15 points on very light volume. The advance/declines were negative. The summation index has turned back up but it is barely gaining steam. The overall market was much stronger than the Dow. Another new all time high for the S&P 500 as it continues to remain short term overbought. I did place another order for the SPY August puts but it wasn't filled. Not that I'm in love with this idea but I have to expect some kind of weakness before option expiration. However there is no overhead resistance and the market today shrugged off a better than expected inflation report. So perhaps I'll just remain on the sidelines until we roll into the September option contract. Gold finished slightly higher as did the US dollar. Interest rates continued their climb. The XAU lost 2 1/3 and GDX shed 1/2. Volume was lighter. GDX is a point away from the 31 level and I'll probably get some of the GDX October calls if an when it hits that level. October is a long way out but at least that will give this idea some time to work out. GDX remains short and medium term oversold. Mentally I'm feeling a bit tired. The VIX is still moving lower and remains oversold. The VIX below its 50 day moving average has implied higher stock prices and the market is cooperating for now. The VIX can remain oversold for weeks but I have to believe that we'll see some type of corrective action for the stock market soon. Soon meaning the September option cycle. Patience for now but I might put in another August SPY put order tomorrow. Asia generally lower and Europe generally higher last night. Summertime Friday on tap to close out the trading week.