A one day reversal to the downside today as the market opened higher and closed lower. The Dow fell 61 points on light volume. The advance/declines were 2 to 1 negative. The summation index is moving up. Not much damage done today as the major indices were just off fractionally. Not a lot of data due this week as we wait for the Fed chairman to speak at the Jackson Hole conference on Friday. That speech could get things moving. The S&P 500 remains short term overbought. We are in a wait and see mode when it comes to the next SPY option trade. Leaning towards the puts but on the sidelines for now. Gold was up a dozen on the futures. The US dollar was lower along with interest rates. The XAU was higher by 1 1/4 and GDX added 1/4. Volume remains average here. Short term overbought on the gold shares as well. Waiting for a pullback before attempting the September calls here. Mentally I'm feeling OK. The VIX was up today as we saw some selling in the market. Still short term oversold here. Not sure what to expect next on the VIX. It closed at its 50 day moving average. Remaining patient here in the short term as perhaps this will be a quiet week for a change. At least until Friday. Asia was mixed again with Europe lower overnight. We'll see how it goes tomorrow.