Sellers had the upper hand today as the Dow fell 132 points on average volume. The advance/declines were shy of 2 to 1 negative. The summation index is beginning to stall. The NASDAQ was by far the weakest today and that is not a plus. The S&P 500 has stalled at its 200 day moving average. The short term indicators here are beginning to turn lower. Could the bounce off of the recent lows be over? Time will tell on that. The short term up trend line for the S&P is still intact. Not in a rush to do any trade here so we'll watch and wait for now. Gold dipped $3 on the futures. The US dollar was up today and interest rates were slightly higher. The XAU was down 1 7/8 and GDX lost 1/3. Volume was pretty light. The short term indicators for GDX are still overbought and now trending sideways as the gold shares try to figure out what's next. Mentally I'm feeling tired. The VIX was higher today which fits a down market. The short term indicators are turning up from oversold territory. This implies higher volatility and lower prices to come. The VIX is still below its 50 day moving average and during up swings it can stay oversold for a while. So the jury is still out on what the VIX means here. Perhaps we'll get better clues tomorrow. Europe was mostly lower and Asia higher with the exception of India overnight. I'll keep an eye on tonights developments.