The selling continued as the Dow was off by 190 points on expiration heavy volume. The advance/declines were slightly positive. The summation index is moving sideways. The NASDAQ led the way lower. Technical conditions have changed as the short term indicators for the S&P 500 have now rolled over. I'm not sure if this is the beginning of a much needed rest or just another fake out before higher prices. The short term indicators for the NASDAQ have moved lower than the overall market. We'll probably know by next week after the Fed meeting where we're heading. For now we'll simply remain patient on the sidelines with regards to the SPY. Gold fell $7 on the futures. The US dollar finished flat and interest rates ticked up. The XAU had a fractional gain while GDX finished unchanged. Volume was average. GDX remains short term overbought. If we see a decline in GDX next week I'll most likely try the calls there again. Mentally I'm feeling OK. The VIX was higher early on but finished unchanged. The daily candlestick chart there appears to be heading lower which would be bullish for stocks. The short term technical indicators for the VIX are back to mid-range. Moving now to the April options cycle with an extra week in the time frame. Premiums are high. Hopefully after the Fed we'll have a better idea of where we're heading. I'll be going over all the charts as usual this weekend. Europe and Asia were lower to close out the week. It's Friday afternoon and time for a break.