It felt like an summer Monday and that's how we traded as the Dow fell 107 points on pretty light volume. The advance/declines were negative. The summation index is in a sideways trend. The NASDAQ managed to post a small gain. The S&P 500 was slightly lower and remains short term overbought. I did place an order for some SPY August puts but wasn't filled. I may try again tomorrow ahead of Wednesdays and Thursdays inflation reports. However there's also a chance that we simply remain range bound here with no big movement to make trading the options worthwhile. But that's just an observation or more likely a guess, nobody can predict the future. Technically the S&P is overbought, staying that way and there's not a lot of volume. Gold continued lower as it sold off in the overseas markets overnight. The futures finished with a loss of over thirty bucks. Gold traded below $1700 for a time overnight. Interest rates continued higher as did the US dollar. The XAU fell 3 3/4, while GDX dropped 3/4. Volume was good to the downside once again. I'm now looking at the October GDX calls for the next gold share trade. But there is no rush as the 50 day moving average has just crossed the 200 day for GDX to the downside. I'm going to try and wait for the 31 level before attempting something here. Mentally I'm feeling a bit tired. The VIX was higher today as the market did have a sharp drop after it opened. It remains oversold. I suppose I'll hope for some buying in the market tomorrow in order to get a decent fill on the SPY August puts ahead of Wednesday. I'm pretty sure that it is a trade that I'd like to do. We'll see how it goes. Asia was higher and Europe mixed with very little change on the closing indices. Perhaps things will pick up on Tuesday but I wouldn't be surprised if it's just more of the same summer slumber.