Another day of going nowhere as the Dow fell 56 points on light volume. The advance/declines were negative. The summation index is heading down. We had a gap lower at the open and then went sideways for the rest of the session. Waiting on inflation data tomorrow and Thursday. Not sure what that will bring. The NASDAQ was the leader heading lower but the losses were small. The technical condition for the S&P 500 hasn't changed. Mid-range on the short term indicators and waiting to see which way they go. Not getting a good signal either way so we're on the sidelines with respect to the SPY for now. 8 days to go in the May option cycle. Gold was up $8 on the futures. The US dollar rose and interest rates ticked up slightly. Once again the XAU and GDX had slight fractional losses on very light volume. It was also the second day in a row that gold had a rise and the gold shares failed to respond. That's a negative. Not sure why I'm still holding on to the GDX May call trade but hope springs eternal. On the hourly chart that we look at here the indicators are back at 50% so things can go either way for the gold shares as well. Mentally I'm feeling OK. The VIX was up a bit today at it too is waiting on tomorrows data. Will volatility be making a comeback is the question. My guess would be not right now as the VIX has been able to remain below the 20 level for over a month. But we'll let the market decide what's next and take things from there. Europe and Asia were generally lower overnight. We'll see how it goes tomorrow.