No upside follow through to yesterdays good gains as stocks opened higher and closed lower for a one day downside reversal. The Dow fell 245 points on good volume. The advance/declines were 3 to 1 negative. This should send the summation index trending lower again. The Dow barely led things lower and that isn't the worst scenario. The short term indicators for the S&P 500 are tracking sideways. I'm not sure where we're headed next as you could make a case either way. No solid trading signal at the moment. Waiting on inflation data Friday that should be benign. NVDA earnings after the bell today. Gold was off six bucks on the futures. The US dollar was higher along with interest rates. The XAU was up 1 3/4 and GDX added 1/2. Volume was light. The gold shares are outperforming here and that is a positive. GDX is short term overbought. Mentally I'm feeling OK. The VIX was up slightly today and that fits with a down market. The short term indicators here are beginning to stall after yesterdays drop. Not sure what's next for the VIX. It is a waiting game for now with regards to the next trade as we'll have to wait for a valid signal to develop. Asia and Europe were lower in last nights trade. We'll see what tomorrow brings.