Still a mixed market as the Dow fell 299 points on light volume. The advance/declines were negative. The summation index is back to trending lower. Both the NASDAQ and the S&P 500 posted gains on the session. The NASDAQ led the way up today and that is a positive. However we are not seeing the indices working in unison one way or the other. The S&P 500 remains short term overbought. I'm not sure which way things will go from here. I am however more inclined to be bearish moving along from here as the S&P will not remain overbought forever. Gold lost a dozen on the futures. The US dollar was a bit higher and interest rates remain flat. The XAU was of 1 1/2, while GDX shed 3/8. Volume was very light. The short term indicators for GDX have turned lower. Keeping an eye on things here but the light volume shows little interest and that would make trading the options here that much harder. Mentally I'm feeling OK. The VIX was lower today which fits the overall market. Mid-range on the short term signs here. Still below the 50 day moving average for the VIX. Perhaps the market is simply waiting for the inflation report on Friday. Or we are in summer mode trading with less players and less volume. I will not try and force things here. There is plenty of time left in the July option cycle. Asia was up with the exception of China. European stocks were lower. We'll see what the middle of the week has to offer.