A gap higher to start the day but then sellers took over and the Dow fell 16 points on light volume. The advance/declines were positive. The summation index is moving up. Waiting on the Fed at this point in time. I did place an overnight order for the SPY September puts but it was not filled. Now it gets even trickier as time is running out and we have to gauge the market reaction to the Fed announcement. We'll stick with the technicals as usual and the S&P 500 remains short term overbought. Both it and the NASDAQ posted small gains today. I may try another overnight order for the SPY puts but the time premium in them is getting sucked out at a rapid rate. That's why the timing will be crucial to getting the trade right. There's also a chance that I will simply pass on this idea as I am usually not that successful with the very short term trades. Gold was off $13 on the futures. The US dollar and interest rates were a bit higher. The XAU lost 1 1/8, while GDX shed about 1/3. Volume was light. Still short term overbought for the gold shares but they can remain that way during up trends. Mentally I'm feeling OK. The VIX was up a bit again today and closed at the 50 day moving average. I'm not sure what the VIX will do next. Three days left in the September option cycle. I'll take another look at things tonight and go from there. Asia was mixed and Europe higher overnight. All eyes and ears on the Fed tomorrow.