We spent the day on the downside as the Dow lost 210 points on average volume. The advance/declines were around 2 to 1 negative. The summation index is now moving lower. The Dow was the lead underperformer today. No real news to speak of as the S&P 500 stalls in the area of new all time highs. It remains short term overbought. I'm still in the bullish camp here unless the summation index really starts to drop. The NASDAQ is on hold for new highs as well. My thinking is that by the close on Friday theses indices will hit new all time highs. Gold was up almost $15 today as both interest rates and the US dollar dropped. The XAU and GDX had fractional gains on light volume. I adjusted my open order for the GDX January calls. It appears to me now that GDX is simply moving sideways to digest the recent gains and will not make a return trip to the neckline breakout point. This of course could change going forward but that's how things appear at the moment. My hope is for some kind of decline but I think there are quite a few out there with the same idea. The market rarely cooperates. I'll continue to try and remain patient because the ideal time for this trade is long gone. Mentally I'm feeling OK. The VIX was higher today and that fits the lower overall stock prices. The short term technical indicators here have now turned back up. This implies more near term selling which I don't agree with. So we will see where things go from here. We haven't seen the usual positive price bias of expiration week yet. There's only a couple of days left. Asia was lower and Europe mixed in overseas trading. We'll keep an eye on the overnight developments.