Some selling today as the Dow fell 293 points on light volume. The advance/declines were better than 2 to 1 negative. This should stall the summation index. The Dow was the leader heading lower and that isn't the most bearish scenario. The S&P 500 had a small loss and the NASDAQ eeked out a tiny gain. The S&P has traveled sideways for a week and remains short term overbought. We'll get some economic data out tomorrow and a lot of Fed speak with numerous speeches. I still favor the SPY October puts at some point. Gold was up another seven bucks on the futures. The US dollar was higher along with interest rates. The XAU and GDX had slight fractional losses on light volume. They both finished off of their highs for the session. GDX remains short term overbought and I will not chase it here. Mentally I'm feeling OK. The VIX finished about unchanged. Still short term oversold and staying that way. Waiting to see if it can move below the 200 day moving average. It appears that I am just biding my time this week. The inflation data on Friday should be benign and that should be a plus for the market. Any surprises would change the picture. Patience for now and then we'll see about getting some of those SPY puts. Asia was mixed and Europe slightly lower overnight. We'll keep an eye on the overnight developments.