Slight downside follow through to yesterdays debacle as the Dow fell 66 points on average volume. The advance/declines were negative. The summation index is moving lower. Just waiting for tomorrows employment report seemed to be the theme of the day. Tomorrow will be an important day. If the market continues to sell off then we probably won't get a chance to buy the SPY August puts. However if we manage to pull off a rally we'll maybe have a shot at this idea early next week. The short term indicators for the S&P 500 are still pointing down though. The longer term trend lines on the daily charts for the major averages remain in place. Gold was off five bucks on the futures. The US dollar was slightly lower and interest rates rose. The XAU had a fractional loss, while GDX was flat. Volume was light. I remain in the losing GDX August call trade for now. GDX is now short term oversold so a bounce is possible but it will depend on the reaction to tomorrows data. Mentally I'm feeling OK. The VIX was lower today which doesn't fit with a slightly down market. The short term indicators are trying to roll over here which would support the bulls if they are successful. I'm not sure what's next here for the VIX. It looks like AMZN is up and AAPL is down on the earnings after the bell. Europe and Asia continued lower overnight. We'll see what tomorrow brings.