Friday began with a gap higher at the open as buyers started early but the market could not hold on to the gains and it ended as a one day downside reversal. The Dow fell 260 points on light volume. The advance/declines were negative. The summation index is moving lower. It wasn't a broad based sell off as the NASDAQ posted another gain on the day and the S&P 500 was barely lower. The short term indicators for the S&P are now mid-range. Both the NASDAQ and S&P 500 have moved basically sideways for the past couple of weeks. We don't know if it's a top being put in or a consolidation before we move higher. The Dow has taken a drop though. The NASDAQ being able to hold up is a plus but todays daily candlestick there looks bearish. I'll have to check things over the weekend and decide which course of action to take. Gold was up $6 on the futures. The US dollar was higher and interest rates ticked up. The XAU was dwon 3 1/3 and GDX lost 1/2. Volume was average. The short term indicators for GDX are heading lower. We'll wait for GDX to get oversold before thinking about any trades there. Could be a while. Mentally I'm feeling OK. The VIX was higher today which fits the Dow but not the overall market. The short term indicators are moving up and the VIX closed above the 20 level. I'm still not sure what's in store next for the VIX but markets always know more than we do. Plenty of data out next week and it is the end of the month as well. Throw in the constant earnings reports and you can see that it is a time to be nimble. The following week we'll get the US election and a Fed meeting. So there will be opportunities out there. I'll be going over the charts as usual this weekend. Europe and Asia were mixed to finish the week. It's Friday afternoon and time for a break.