Hanging around on a summer Thursday but the Dow got clocked to the tune of 464 points on heavy volume. The advance/declines negative. The summation index is beginning to stall. Waiting on tomorrows jobs report. The Dow led the way lower and that isn't the most bearish scenario. The NASDAQ and S&P 500 posted minor losses. The short term indicators for the S&P are starting to trend a bit lower in overbought territory. My guess is that the past two days were spent digesting the big previous gains. We'll know more after tomorrows price action. Gold finished flat on the session. The US dollar was higher along with interest rates. The XAU and GDX had fractional moves one way or the other on average volume. The short term indicators on GDX are now overbought. I'll consider the August calls here for GDX if we get some near term decline towards the recently broken down trend line on the daily and weekly charts. Mentally I'm feeling OK. The VIX was lower today which doesn't fit with a negative market. The short term indicators for the VIX remain oversold. I'm still not sure what comes next for the VIX. At this point it appears that we'll let tomorrow come and go. Then we will focus on next week and a possible trade there. Still at the mercy of the next US/Iran conflict headline. Asia and Europe were mixed overnight. We'll see how the market reacts to the employment report tomorrow.