A summer session to be sure as the Dow fell 58 points on light volume. The advance/declines were around 2 to 1 negative. The summation index continues higher. Inflation data due for the next couple of days and it should be market positive. We continue to wait for the S&P 500 to reach 4200 before thinking about purchasing the SPY August puts. The NASDAQ led the way lower but we don't think this is the start of any long term decline. As long as the summation index moves forward the trend is up. Gold added five bucks on the futures today. The US dollar was a bit lower and interest rates a bit higher. The XAU and GDX had slight fractional losses on light volume. GDX is now short term overbought on some of the short term techncial indicators. Mentally I'm feeling OK. The VIX was up a bit today and remains oversold. Still waiting on the 20 level here before trying the SPY puts. Waiting pretty much sums up what the stock market did today. We'll get the CPI tomorrow and the market reaction to it and go from there. Europe and Asia were mixed. We'll see what tomorrow brings.