The S&Ps opened flat and basically chopped sideways all day to go out where they had opened with a gain of a touch.

Crude slipped a percent while the gullible waited once again for the imminent "deal" announcement. They were even suckered at one point by Trump posting about a "final determination," which then never happened.

The rest of the commodity complex was mostly a little lower.

The dollar was mixed and virtually unchanged per the DXY, while yields slipped a little.

BTC rose a hair, and MSTR popped 5 percent.

Gold traded up to as high as $4591 on deal BS and then gave most of that back to end up a percent at $4540.

Silver similarly popped a little on deal BS and then backed off to end down a hair at $75.29.

The GDX squirted up to just over the 20 dma on the same deal BS and then fell back to end off the highs but still up over 2 percent. Nevertheless, the GDX did close above the 5 dma for a second session, which statistically puts the bulls in charge. However, given the 2 prior lower highs that this push looks very similar to, I'm not sure I trust that statistical tendency, especially with it being month-end.

I'm still waiting for the day that oil takes off again given that we've just about exhausted all of the verbal intervention options at this point, and even if the straits were opened full throttle as of "yesterday," it wouldn't matter given the coming shortages that will develop once the remaining inventories are used up within a few weeks. It's all about when people start to panic now.

And when that panic comes, everything is going lower. It's just that simple in my mind.

My gold model remained at neutral.

Positions: Short SPY, QQQ, MDY, and IWM. Long IBIT and DBA.

Metals: Long GDXD and ZSL. Long SLV 65 puts for Monday for 8 cents.