Hanging around today as the Dow lost 31 points on light volume. The advance/declines were positive. The summation index is now moving up. New all time closing highs for the NASDAQ and the S&P 500. The S&P remains short term overbought. I did place an order for the SPY July puts today but it wasn't filled. We are getting a short term sell signal from one of our indicators. I might try this idea again tomorrow if we see some strength in the morning. I'm not completely sold on this since when we tried it last month it didn't work. However the market will not stay overbought forever. Inflation data out on Thursday and Friday. Fed chairman Powell will speak tomorrow and Wednesday. So there will be excuses for the markets to move. Gold dropped over thirty bucks on the futures. The US dollar and interest rates finished a little higher. The XAU and GDX had fractional losses on light volume. They finished well off of their lows for the session. Despite the drop in gold the gold shares fared well. That is bullish. I'm still considering the GDX July calls but GDX is short term overbought. However in rallies it can stay that way. So we have a couple of conflicting trade ideas with the GDX calls and the SPY puts. I'll ponder the possibilities overnight. Mentally I'm feeling a bit distracted. The VIX was lower today and remains below its 50 day moving average. Not sure what to expect here next. Europe and Asia were lower to begin the week overseas. We'll keep an eye on the overnight developments.