Waiting on the Fed it seems as the Dow gained 13 points on light volume.  The advance/declines were 3 to 1 positive.  The first hour saw a jump up and then right back down again.  The rest of the day was a meandering affair.  The summation index should be moving back up after today.  I do think that the market will rally from here for a bit.  Overbought and staying that way.  I would like to see a light volume attempt to set new highs on the S&P 500.  That is the set up in my mind for the SPY May puts.  We'll just have to wait and see if the market cooperates.  GE was up almost 1/4 on light volume.  Gold rose $5 on the futures as the US dollar was lower.  The XAU added 1 7/8, while GDX gained 1/2.  Volume was average.  Perhaps we'll see some movement in gold after the Fed as well.  Basically sideways in gold itself for the past two months.  Mentally I'm feeling OK.  Small stocks were mixed to day with the tech names leading some of the indices there lower.  Perhaps the earnings from AAPL after the bell will get things going to the upside there.  RUT had a good session.  Add very good market breadth today and you can see why a case can be made for higher prices in the near term.  The expensive option premiums have led me to not try the SPY May calls here although that could be a mistake on my part.  Like I have said, there's always a chance that we break out to the upside through the overhead resistance.  However at this juncture I'm placing the odds on that as very low.  I could be wrong and often am.  I expect nothing new from the Fed tomorrow.  The GDP report may be more of a market event.  Foreign markets were mixed overnight.  We'll see what the Fed has to say tomorrow.