Another day of sideways trading as the Dow fell 89 points on heavy volume. The advance/declines were 2 to 1 negative. The summation index continues higher. The NASDAQ continues to lead the way with another gain today. The S&P 500 was barely higher. We got a signal last night from the McClellan oscillator for a big move within the next two trading sessions. We'll see if that comes to fruition tomorrow. I did place a couple of orders for the SPY May puts but they weren't filled. The S&P remains short term overbought. The risk of taking on a trade here with two days left in the May option cycle is pretty high. Considering that the short term trades are not my best endeavors it is probably better that my orders didn't get filled. I set the price that I was willing to pay but the market never got there. Sure I'll be disappointed if the market falls tomorrow but we'll just move on the the June option cycle and go from there. Gold was off $64 on the futures. The US dollar was slightly higher and interest rates rose. The XAU fell four points and GDX was down a point. Volume was above average. Remaining short term oversold for GDX and heading to the up trend line at 44. Perhaps try the GDX June calls there? We'll see. Mentally I'm feeling OK. The VIX was up slightly today which doesn't fit the overall market being flat to higher. Still short term oversold here. The up trend line on the VIX daily chart that began late last year remains intact. Retail sales and inflation data out tomorrow morning. Also the Fed chairman will be making a speech. So we should see some market movement and my expexctation is that we'll see selling. I could be wrong. Asia was generally higher and Europe lower in last nights trade. We'll keep an eye on the overnight developments.