Sellers returned to Wall street as the Dow lost 366 points on light volume. The advance/declines were 6 to 1 negative. The summation index is starting to move sideways. We had seeling around the globe overnight. The negative RSI divergence for the S&P 500 went from potential to actual. I did place an overnight order for some SPY July puts but it wasn't filled and I canceled it. The short term indicators for the S&P 500 have rolled over. However the market finished well off of the lows for the day so perhaps the worst has passed. We'll see how things go after the employment report tomorrow. Gold was off ten bucks on the futures. The US dollar was lower and interest rates continued to climb. The XAU fell almost 3 points and GDX lost 3/4. Volume was good to the downside. I'm still considering the GDX August calls but I'm not completely sold on that idea as GDX is back below its 200 day moving average. I'll think about it overnight. Mentally I'm feeling OK. The VIX was higher today and had a big spike early on as the contracting Bollinger bands suggested. Some of the short term indicators here are only mid-range which suggests perhaps more volatility in the works. Stock markets have become agitated now after the recent run up. Could the summer rally already be done? Stay tuned. Europe and Asia sold off again last night. We'll see how the week closes out tomorrow.