Selling ahead of tomorrows inflation data as the Dow fell 192 points on light volume. The advance/declines were negative. The summation index has stalled. The short term technical indicators have rolled over for the major stock indices. The 50 day moving averages have proven to be resistance so far. Tomorrows price action should tell us where we're heading in the near term. The recent light volume really doesn't give us confidence one way or the other. We'll see what the reaction is tomorrow and go from there. Gold dropped another 8 bucks on the futures. The US dollar was flat and interest rates declined. The XAU fell almost 2 points while GDX lost 3/8. Volume remains light. Mentally I'm feeling OK. The VIX was up again today and that fits a down market. There's plenty of room to go higher on the daily indicators here. The VIX seems to be telling us that a decline is here and it will continue. But the market goes where it wants. 3 days to go in the July option cycle. Asia was lower and Europe higher in last nights trade. We'll see what tomorrow brings.