Pretty much a listless session on the return from the holiday weekend. The Dow fell 50 points on average volume. The advance/declines were slightly negative. The summation index is still moving lower. The debt limit deal is done and now needs to be voted on. Hopefully that will be done by the end of the week and we can move on from that distraction. The NASDAQ continues to lead the way here and that's a plus. However it has remained short term overbought for quite some time and it is getting pretty far away from its 50 day moving average. But that doesn't mean it can't keep going up. It will have to take a rest at some point though. The S&P 500 is not completely short term overbought but seems to be having trouble getting through the 4200 level. Tomorrow is another day. Gold was up over $30 on the futures. The US dollar was a bit lower and interest rates dropped. The XAU fell 1 1/8 and GDX lost over 1/8. Volume was average. A stellar day for gold and the gold shares lose value? That is not a good sign for the bulls as interest in owning the gold shaeres is lacking. My GDX June calls are solid losers and this trade will need to be completed sooner rather than later. Gold is holding on to its up trend line that has been in effect since November. GDX is also holding its longer term up trend line but todays price action was disappointing. If the gold shares can't get going on a thirty dollar rally in gold, when can they? Mentally I'm feeling OK. The VIX was lower today which fits with the overall market. Mid-range for the short term technicals here so it could go either way. Still well below the 20 level and that implies higher stock prices moving forward. End of the month tomorrow and we'll see what that brings. We did purchase the natural gas ETF BOIL again today for the next trade there. We'll hold until it gets short term overbought. Asia up and Europe down in last nights trade. We'll keep an eye on the overnight developments.