A bit of selling today as the Dow fell 620 points on heavy volume. The advance/declines were 3 to 1 negative. The summation index is beginning to turn lower. The Dow led things lower which isn't the most bearish scenario. Let's face it, stocks were overdue for some kind of downside reaction. The market doesn't go up every day in a row. The question is whether or not this is the beginning of some sustained move to the downside or just a breather. The short term indicators on the S&P 500 have turned lower but remain overbought. The negative RSI divergence on the daily chart is there. It's possible that today is all we get out of that signal. We'll see if there's more but the market goes where it wants. My SPY June puts are showing less of a loss. Not sure how much longer I want to hold this trade. We'll check things out again tonight. Gold was down $52 today. The US dollar was higher along with interest rates. The XAU lost over 12 1/2 and GDX dropped around 3 points. Volume was lighter than average. The short term indicators for GDX are still moving sideways in oversold territory. GDX did close below its 200 day moving average. No GDX trades in mind at the moment. Mentally I'm feeling a bit tired. The VIX was higher today but not by much considerng the drop in stocks. The short term indicators here remain oversold. Not sure what to expect next with regards to the VIX. The jobs report on Friday should be the next market mover unless we get some headlines out of the Middle East. Europe was lower and Asia mixed again last night. I'll keep an eye on tonights developments.