Quick Games While We Wait

It is tough to have any type of conviction one way or the other in front of likely fireworks this Thursday, not only with the Fed but also a slew of government data. 

I suspect the drifting action, down yesterday and up today, will continue until the main event Thursday afternoon. 

Meanwhile, beaten-down names like ONVO and WTW are garnering attention for their percentage moves higher, but are still both damaged charts and tough to celebrate for anything for than a short-lived snapback rally. 

Crude oil is still triangulating along with the daily charts of most major stock indices, and the best type of trades may be quick-hitting short squeeze plays in names like EXEL. On the daily chart, below, note the relative strength the smaller biotech has shown, with a heavily-shorted float, to boot. Over $6.10 and $6.20 should set in motion some type of squeeze. 

I will update other relative strength names for Members, as well as inter-market analysis, in my usual Midday Video.