The Dow headed lower before tomorrows inflation data as it lost 191 points on light volume. The advance/declines were negative. The summation index continues lower. The NASDAQ led the way down which has been the case lately. It's landed on its 50 day moving average. The up trend line here on the daily chart is where the index lies now. Tomorrow will be important to see if things hold up here for the NASDAQ. The S&P 500 is almost to the same support areas. Both of these major indices are short term oversold but that doesn't mean they won't stay that way. We'd like to see stocks move up from here in an effort to buy the SPY August puts early next week. But the market rarely cooperates. Gold was off another ten bucks on the futures. The US dollar finished little changed along with interest rates. The XAU was off 1/2, while GDX rose a nickel. Volume remains extremely light here. Halfway through the session I did place an order for the GDX August calls but canceled it near the close. The gold shares holding steady with a falling gold price is bullish. GDX is also short term oversold. But I wasn't so convinced in this idea to try it a higher price than I wanted to pay. If the inflation data comes in light I would expect gold and the gold shares to benefit. Mentally I'm feeling OK. The VIX bounced around today like the overall market and ended unchanged. I'm not sure where it goes from here. It was looking positive before we had the final hour market swoon. The only thing that I can say with any certainty is that the bullish run up that we had for June and July is history. Asia was mixed and Europe higher overnight. We'll see what tomorrow brings.