We bounced around today as the market is trying to make up its mind what to do here. The Dow gained 61 points on good volume. The advance/declines were negative. The summation index is moving down and has passed through the zero line. The S&P 500 remains short term oversold and at the last line of support. Ditto for the other major stock averages. Nothing was settled today as for where we go from here. Perhaps tomorrows GDP data will decide the markets near term fate. We're due for some kind of bounce but with the summation index moving lower the trend is down. Gold lost $15 on the futures and is now clearly below the $1900 level. The US dollar is still moving up and today interest rates joined it. The XAU and GDX had fractional losses on pretty light volume. My GDX May calls are solid losers and a close this week around the 36 level doesn't seem to be in the cards unless we see a dramatic turnaround in the next two sessions. At the rate it's going the trade will be stopped out tomorrow. GDX also remains short term oversold. Mentally I'm feeling OK. The VIX was lower today and is short term overbought. I'm not sure where it goes from here. Normally I'd say it will drop from here and stocks will move higher but these are not normal times so it seems. The big tech earnings came in mixed today. More are due out tomorrow. There's also employment cost data out on Friday. So there will be excuses for the markets to move. The question is whether the support will hold or not. We'll know soon. Asia was lower with the exception of China while Europe was higher. We'll keep an eye on the overnight headlines.