Another slow summer Monday as the Dow dipped 61 points on good volume. The advance/declines were negative. The summation index is starting to track sideways again. The NASDAQ led the way lower but the losses were small for all the major indices. It appears to be a waiting game on the inflation data due Wednesday and Thursday. The short term indicators for the S&P 500 are traveling sideways in overbought territory. I did place an open order for the SPY August puts but it wasn't filled. I'm leaving it out there. It will take some gain in the S&P to be filled and that may not happen before Wednesday. It would be a short term trade and out before the end of the week if it gets filled. Gold continues to shine with the futures up another $48. The US dollar was higher along with interest rates. The XAU was up 2 1/3 and GDX added over 1/2. Volume was average. GDX remains short term overbought on the daily indicators. Any pullback here would perhaps give us a shot at the GDX August calls as buyers have returned to this space in force. Mentally I'm feeling tired. The VIX was higher today which fits a down market. The short term indicators remain oversold. The VIX is well below the 20 level as the bulls are in charge. I will have to decide tomorrow if I want to pay up for the SPY August puts. Probably not is my feeling at the moment but we'll have to wait and see. Asia was higher and Europe mixed to begin the trading week. I'll keep an eye on tonights headlines.