The S&Ps opened up a touch and worked a little higher before backing off in the afternoon to go out near the middle of the day's range with a gain of a third of a percent. To say that things were quiet today would be an understatement.

The dollar was mixed and little changed per the DXY. BTC rose over a percent.

Yields rose 4 to 5 bps all across the curve.

Commodities were mostly lower despite crude being largely unchanged after backing off from higher levels on more "dea; headlines. Palladium plunged 3 percent to another new 52-week low, while platinum fell over 2 percent to just shy of its recent low. Copper fell over 2 percent.

Gold and silver both plunged back to near their recent lows overnight, with silver actually taking them out slightly. Both metals then began rallying as we neared the US open as crude reversed from its overnight highs. Gold managed to make it back to yesterday's high, while silver failed shy of that before both then reversed and gave up much of their gains, with gold ending off half a percent to $3930 and silver ending off over a percent to just under $50.

The GDX opened flat and then sank to end near its lows for a loss of 2 percent.

Both the metals and GDX ended below their 5 dma once again, so the bears remain in charge. With that said, silver flashed a bullish RSI divergence on the hourly and four hour charts when it made its marginal new low overnight and both gold and GDX remain above their recent lows. Given that my model remains on a Tier 3 BUY and neither the metals nor the GDX have tested the 5 dma yet, upside still seems more probable than downside. And perhaps that's what we'll see after the election results are in tonight.

My gold model remained on a Tier 3 BUY.

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

Metals: Long SLV 47 calls for tomorrow and I added some SLV 47 calls for Friday for 19 cents today.