Some selling to begin the week as the Dow fell 211 points on good volume. The advance/declines were better than 2 to 1 negative. The summation index is moving up. Back and forth through the session as the market is due to take a rest. The NASDAQ led the way lower. Producer prices out tomorrow and that should provide a reason for buyers or sellers. The S&P 500 remains short term overbought. We'll see if the positive expiration week bias shows up. Plenty of economic data due out this week including retail sales. So we'll see if the market takes a breather or powers up to the resistance at 4100 for the S&P. Gold was up $7 on the futures. The US dollar was higher along with interest rates. The XAU and GDX had slight fractional losses on light volume. GDX remains short term overbought. We are waiting to see if it falls back to the neckline breakout of the inverse head and shoulders pattern on the daily chart. We are looking to try the calls there again on weakness. The recent price and volume pattern on GDX is implying higher prices going forward. There is stiff resistance at the 30 level though. Mentally I'm feeling OK. The VIX was higher today which fits with a down market. Still short term oversold here. Not sure where we're going on the VIX. I haven't had a good read on this indicator for a while. However as long as the summation index is moving up we'll be looking for higher stock prices moving forward for now. We also still have an intact up trend line on the S&P 500 daily chart. Waiting for the 4100 level on the S&P before deciding on the next trade there. Europe was up and Asia generally lower to begin the trading week. We'll keep an eye on tonights headlines.