Selling in the middle of the week as the Dow fell 159 points on light volume. The advance/declines were negative. The summation index is still trending higher. Once again the NASDAQ led the way lower and that is not a plus. Waiting on NVDA earnings after the close. The S&P 500 remains in the same technical condition. Short term overbought and staying that way. Seems like we are just waiting for this week to go by and then all the players should be back. No SPY trades for now. Gold dropped ten bucks on the futures. The US dollar was higher and interest rates remained flat. The XAU fell 3 3/4, while GDX shed around 7/8. Volume was light. The short term indicators for GDX have now rolled over. We'll see if thay keep going. Waiting for GDX to return to short term oversold before trying the calls here again. Mentally I'm feeling OK. The VIX was up today which fits a down market. Back above the 50 day moving average. The short term indicators here have turned back up but remain oversold. Just a couple of trading days left in the month of August. Unless something out of the ordinary happens I'll be on the sidelines until after Labor day. Plenty of time left to trade in the September option cycle. Sometimes you have to be patient. Asia was mixed and Europe higher overnight. We'll keep an eye on tonights headlines.