FED Meeting & this Monkey Market

Fed meeting on "Aug 8" seems now a big gamble for the Street now. For this reason, NAZ stucks in a monkey market, chopping in a range..... Looks like most traders are now expecting a pause. But..

We know in this round of bounce off July low, DOW is the leader. So let's calcualte first, is it a good gamble on whether FED will increase rate or give a pause? There are two cases here on Aug 8:

1. Pause. OK. Dow bouncing more. But 11330 is the next strong resistence point.
2. Increase by 1 Qtr. Oops.... Dow selling off sharply with 10700 as possible target later. ( July's low is about 10700)

Dow is now about 11200. So you guys know the math on what a upside/downside for this gamble? Anyway, always try to short those rich of bubbles and long those undervalued. This should help your profolio grow.