Another day of hanging around as the Dow dropped 52 points on light volume. The advance/declines were negative. The summation index is trying to move higher but is in a rangebound state. Yet again new all time closing highs for the NASDAQ and S&P 500 but just barely. The S&P remains short term overbought. We did get a signal last night from the McClellan oscillator for a big move within the next two sessions. We'll see if that happens tomorrow. I'd like to try the SPY puts again and may just do it tomorrow if we see some strength. Inflation data Thursday and Friday. We still have the short term sell signal from one of our indicators. Gold was up $7 on the futures. The US dollar was a bit higher and interest rates were up a touch. The XAU and GDX finished little changed on the day. Volume was extremely light. I did place an order for the GDX July calls but it wasn't filled. Might try again tomorrow but if the overall market does drop here it should take the gold shares with it. We are kind of in a conflicting zone at the moment when it comes to the next trade. Mentally I'm feeling OK. The VIX was up slightly today. The Bollinger bands here continue to converge so we are going to get something happening here. The question is when? Summer trading can get thin but there sre still opportunities to be had. Never easy in this game. Asia up and Europe down overnight. We'll see how it goes tomorrow.