Waiting around to see what's next out of Iran as the Dow fell 85 points on good volume. The advance/declines were slightly negative. The summation index is trending higher. We traded lower today until the last hour when a rally moved many stocks back to the plus side. Both the NASDAQ and S&P 500 posted slight gains. Most of the short term indicators for the S&P are still trending up. Not sure what tomorrow will bring as we are still at the mercy of headline risk. Staying on the sidelines with regards to the SPY options for now. Gold was up $41 on the futures. The US dollar was lower and interest rates were flat to lower. The XAU was up 2 3/8, while GDX added almost a point. Volume was light. The short term indicators for GDX are moving sideways with some of them overbought. My open order for the GDX April puts remains out there. Could get filled if we see the gold shares move higher tomorrow. I still like the idea of this trade ahead of the inflation reports. Mentally I'm feeling OK. The VIX was up today but off from its best levels on the session. The short term indicators here are turning back up. If they succeed the market will head lower. However the markets are simply waiting to see if the United States starts bombing Iran tonight. That is what the near term trade boils down to. Europe was lower and Asia mixed in last nights trade overseas. I'll keep an eye on tonights headlines.