Slightly lower today as we got more of the same going nowhere market price action. The Dow slipped 113 points on light volume. The advance/declines were slightly negative. The summation index is heading sideways. The inflation data came in about where expected and did not have much effect on prices. Perhaps the after the close NVDA earnings will get things moving. Most of the short term indicators for the S&P 500 remain oversold. Lighter volume reflects the lack of all the players being in the game at the end of summer. We will most likely let this week pass and go from there. Gold finally took a breather with the futures off $46. The US dollar was higher and interest rates finished flat. The XAU lost 11 3/4, while GDX dropped 3 1/8. Volume was average. The short term indicators for GDX have turned down but remain overbought. We would need to see more of a decline here for GDX before we consider the September calls. Mentally I'm feeling OK. The VIX was a bit lower today which doesn't fit with a lower market. The short term indicators on the VIX are now at mid-range so it could go either way from here. Combine that with a sideways S&P 500 for the past week and you get the picture. So we will sit things out until we have a better picture of things one way or the other. Asia and Europe were generally positive overnight. I'll keep an eye on the overnight developments.