It was a day of stabilization as the Dow rose 38 points on light volume. The advance/declines were slightly positive. The summation index is trending sideways. A back and forth seesion for the most part as volatility cooled off for a day. The overall market was slightly weaker. The S&P 500 was a bit lower but remains above its 50 day moving average. The short term indicators are still pointing down. Not sure what to expect tomorrow ahead of the jobs report on Friday but I would not expect a lot of buying unless a short squeeze takes place. The daily candlestick chart here looks bearish. Gold finished flat on the day. The US dollar was lower and interest rates dipped. The XAU and GDX had fractional losses on light volume. GDX remains at its 50 day moving average. The short term indicators are not yet at oversold levels. Staying patient for now when it comes to the GDX September calls. Mentally I'm feeling OK. The VIX was up a bit today and remains above the 20 level. The picture of the daily candlestick chart here implies that the VIX will move lower from here. We'll see if that happens. Europe and Asia were lower with Japan leading the way. We'll see what tomorrow brings.