The tastylive crew adopts a cautious stance ahead of critical economic releases and the upcoming Fed decision. The S&P 500 index hovers around 6,500 with minimal movement, leading traders to implement zero-day iron condors to capitalize on the sideways action. September historically presents downside risk, with data since 2020 showing an average 3.61% decline. This week brings potential volatility triggers with PPI data Wednesday, CPI Thursday, and next week's FOMC meeting where markets are pricing an 8-10% chance of a 50-basis-point cut. Significant market divergence appears as bonds and gold show substantial strength while equities remain flat. Live cattle futures dropped 2% on profit-taking after recent gains. Triple witching expiration approaches, adding another layer of potential volatility as futures contracts roll from September to December.