For Wednesday: The market is slowly deteriorating while dip buyers are wondering…”where are the buyers”. There is no doubt the market is nervous about next week’s FOMC along with this week’s expiration. With the options expiring it could bring on a wave of increased volatility which could be fueled by the FOMC’s decision. We are starting to raise the caution flag until we get past the FOMC meeting and Uncle Jerome’s speech. In trading, there is a time to make money and a time to be patient. Now is the time to be patient. We will be managing any positions we have left for the remainder of the week and early next week…and taking a tactical approach to any possible new positions. Have a great Wednesday.