Somewhat of a mixed picture today as the Dow fell 409 points on heavy volume. The advance/declines were higher. The summation index is still moving higher. Much of the Dow loss can be attributed to the steep drop in UNH. Both the NASDAQ and S&P 500 posted decent gains with the NASDAQ leading the way higher. The S&P closed at a new all time high. The short term indicators there are still moving higher with some already overbought. We are getting a short term sell signal on the S&P from one of our indicators but I'm holding off on the SPY February puts for now. Option premiums here remain high. Gold was up $90 on the futures. The US dollar got crushed today which helped support gold. Interest rates were little changed or slightly higher. The gold shares had a one day upside reversal as they opened lower and closed higher. The XAU rose 4 1/3 and GDX was up around 1 3/4. Volume was good. The short term indicators for GDX remain overbought. I've still got my open order for the GDX February puts out there but will reconsider this idea tonight. The negative action in the US dollar today could be a cause for concern and drive gold higher instead of turning around here as I thought. As usual, the trading is never easy. Mentally I'm feeling OK. The VIX was up a bit today and the short term indicators here are trending sideways. The daily candlestick chart has the look like it wants to go higher which would not bode well for stocks. We'll see. The Fed is on tap tomorrow but that seems to be in the background which hasn't happened for a while. We still expect no change in rates as does the rest of the world. All eyes and ears on what the chairman has to say after that. Asia and Europe were higher with the exception of the DAX. We'll see what tomorrow brings.