More of the same today as the Dow fell 102 points on light volume. The advance/declines were slightly positive. The summation index is beginning to move sideways. Nothing new from the Fed chairman today with more talk tomorrow. It's the first day of summer and the market is acting like it as we appear to be going nowhere fast. The NASDAQ led the way down and that's a minus overall. We are now looking at the SPY July puts but will wait for some kind of move back to the recent highs to try that idea. The short term indicators for the S&P 500 continue to curl down. No rush to put on a trade here as there is plenty of time in the July option cycle. Stock markets were overdue for a pause and we are getting one now. Gold was off a few bucks on the futures. The US dollar was down and interest rates finished little changed. The XAU and GDX had slight fractional losses on light volume. Gold and the gold shares did come up from the worst levels on the session. Have they hammered out a bottom here? That remains to be seen. We'll watch and wait at this juncture. Mentally I'm feeling OK. The VIX was lower today and that doesn't fit with a down market. Very short term oversold here so I simply don't know what to expect next from this indicator. It is in bullish territory though. After a nice run higher it seems as though the bulls are taking a break here. Ideally we'd like to see a move back towards the recent highs on light volume so we can attempt the SPY puts. Markets rarely copperate. Asia was mixed and Europe lower in last nights trade. We'll keep an eye on tonights market action.