We had a downside reversal day for the Dow as it opened higher and closed lower. It fell 48 points on average volume. The advance/declines were positive. The summation index continues higher. The S&P 500 along with the NASDAQ were positive. The NASDAQ closed at a new all time high. As long as the small stocks lead the way, the trend remains up. I canceled my open order for the SPY September puts. I still like this idea but the timing must be correct. At this point I'm probably going to wait until early next week to try again. But we'll see. Still short term overbought for the S&P although it did drop in the final two hours today. Gold finished flat on the session. Both interest rates and the US dollar were slightly lower. The XAU fell 1 3/8, while GDX shed almost 1/4. Volume was light. Still short term overbought on the gold shares. Mentally I'm feeling OK. The VIX was lower today and remains oversold. Not getting any feel for where the VIX is going from here. I think at this point waiting for the jobs report on Friday and the market reaction to it is the prudent course to take. If the market conitnues higher here, I'll consider the SPY September puts after Labor day. That's my best guess at the moment. We did not see as much money flow into stocks today as I expected since we had a late sell off. Europe and Asia were generally higher overnight. We'll see how it goes tomorrow.