Some back and forth today as the Dow fell 25 points on average volume. The advance/declines were slightly positive. The summation index remains in a sideways channel. The overall market did much better than the Dow with the NASDAQ up 1%. The S&P 500 was higher and its short term indicators are stalling at mid-range. Still waiting on Fridays jobs report and the feeling here is that things could go either way at this point. I still have my open order for the SPY September puts out there but I'm ready to adjust it as the market moves dictate. Perhaps we'll see another run at a new all time high before things roll over or we will just head lower from here. Either way I'd advise caution for now. Gold continues with its bull run, up another $29 today on the futures. The US dollar was lower as were interest rates. The XAU was up two points and GDX added 1/3. Volume was good. GDX remains short term overbought on all of the indicators and is trading above its upper Bollinger band. I would think that maybe the GDX September puts would work here but I'm not stepping in front of this freight train. Mentally I'm feeling OK. The VIX was lower today which fits with an overall positive day for stocks. Some of the short term indicators here are beginning to turn lower. Not sure what lies next for the VIX. I will most likely not be taking on a position ahead of Fridays employment report but we'll see. The fact that the market didn't continue lower today is a plus for the bulls but we all know things can turn on a dime in this game. Europe was higher and Asia lower with the exception of India. We'll see what tomorrow brings.