A mixed picture while waiting on the Fed as the Dow gained 228 points on light volume. The advance/declines were better than 2 to 1 positive. The summation index is moving up. The NASDAQ posted a small loss while most of the other major averages were higher. The S&P 500 had a slight gain and remains short term overbought. I am still considering the SPY September puts for this week. I will buy them perhaps tomorrow if we see more upside. A risky trade to be sure as the timing has to be right. The S&P is stalling at the overhead resistance at around 5650. However if we break through there on good volume, new highs will be the story. I would like to try the puts at some point this week though. Gold was flat on the session. The US dollar was lower and interest rates were slightly down. The XAU and GDX had fractional losses on pretty light volume. Today looked like a pause before we go higher for the gold shares but time will tell on that. Mentally I'm feeling OK. The VIX was up a bit which doesn't fit with the positive tone of the overall market today. Not sure where it is headed next. Not yet completely short term oversold there. Retail sales out tomorrow and that might provide a reason for market movement. Europe was mostly lower and what was open in Asia finished mixed. We'll keep an eye on any overnight developments.