Another sideways summer Monday session though the Dow did drop 349 points on light volume. The advance/declines were 2 to 1 negative. The summation index is drifting higher. The Dow led the way lower as both the NASDAQ and S&P 500 posted small losses. We did not see any upside follow through the Fridays big gains and that is somewhat of a concern. Waiting on NVDA earnings after the bell on Wednesday and the inflation report on Friday. But there is plenty of time before that. I'm still in favor of some SPY September puts at some point. It looks like the short term indicators for the S&P are starting to roll over. We could have a very thin trading market this week as some traders take off for the last unofficial week of summer ahead of Labor day. I'll try and remain patient for now. Gold was off $8 on the futures. The US dollar was higher and interest rates creeped up as well. The XAU and GDX had minor fractional rises on extremely light volume. GDX continues to be short term overbought. Mentally I'm feeling OK. The VIX was up today which fits a downside market. Still short term oversold here but not completely so. Not sure what's next for this indicator. Would like to wait for it to get completely oversold before trying the SPY puts but markets rarely cooperate. Asia up and Europe mostly down to start the week. We'll see how things go tomorrow.