Another open higher and closing lower day for the S&P 500 but the Dow managed a gain of 65 points on pretty light volume. The advance/declines were positive. The summation index continues higher. Most of the indices were lower today, with the NASDAQ losing over 150. It is the final week in August before the unofficial end of summer after Labor day next Monday. It's possible that some traders will be away from their desks. Some economic data due this week with inflation news on Friday. The S&P 500 remains short term overbought while we wait and see if new all time highs are coming. Our guess is that yes, we'll see new highs for the S&P sooner rather than later. Gold was up $7 on the futures. The US dollar was a bit higher along with interest rates. The XAU and GDX were barely lower on extremely light volume. We had some geo-political tension over the weekend and the gold shares did not react. Still short term overbought on GDX and waiting on a pullback to try the calls there again. Mentally I'm feeling a bit tired. The VIX was up slightly and is hugging its 50 day moving average. Short term oversodl and remaining that way. Not sure what's next for the VIX. Might be on hold for the next trade until the jobs report in a week and a half but we'll see. Asia was higher except for Japan while Europe ended mixed. I'll keep an eye on the overnight developments.