Back and forth again today as the Dow lost 50 points on average volume. The advance/declines were slightly positive. The summation index is moving lower. The NASDAQ finished in the green. Just waiting on the Fed now as yesterdays decline is in the rear view mirror. The S&P remains short term oversold. If we can snap back to the 440 level on the SPY, I may try the October puts. There is a huge gap to fill in the daily chart. However you can also make the case that the market will simply continue to stay oversold and decline from here. Reaction to what the Fed has to say will be key in the short term. Gold was up over ten bucks on the futures again today. The US dollar and interest rates finished little changed. The XAU and GDX were little changed as well and dropped from their highs of the session. Volume was average. I'm guessing things will get moving with the Fed tomorrow. Mentally I'm feeling OK. The VIX dropped today but not as much as it could have been. Remaining overbought on the short term technical indicators here. Staying well above the 20 level and volatility could be here to stay for a while. I'm hoping to get some kind of chance for the SPY October puts but we finished well off of the highs for todays session and that's not a good sign for the bulls. At this point we'll simply wait and see what happens tomorrow and go from there. Asia was mixed with some markets still on holiday. Europe was higher. We'll see what Wednesday and the Fed brings.