The markets are stuck in a sideways pattern. Minimal moves on Friday prove that traders are likely awaiting results from the FEDââ,¬â"¢s 2 day meeting, which starts today. Although interest rate futures markets show a 100% chance that the FED will increase rates a quarter point, there is still some question as to what language the FED will use to let us know its outlook on the economy and future rate movements. We are likely to see large movements in the markets Tuesday after the Fedââ,¬â"¢s future direction on interest rates is revealed. Until then, expect the Dow, S&P, and NASDAQ to remain relatively flat and in trading ranges.

Stocks to Watch

Myogen, Inc. (Nasdaq: MYOG) The FDA has requested more data from Encysive Pharmaceuticals (Nasdaq: ENCY) pertaining to its Thelin drug. This is positive for competitor MYOGEN Inc. (MYOG). A breakthrough of MYOGââ,¬â"¢s recent $35.50 resistance levels on high volume will signal strength in the stock. Our Classic Swing Trading system will be monitoring MYOG closely today, and alerting members to buying opportunities.

Wendy's INTL Inc. (NYSE: WEN): Fast food giant Wendys Intl Inc (WEN) has been on a tear to the upside since mid Oct 2005. WENââ,¬â"¢s 85% stake in Thursdayââ,¬â"¢s Tim Hortonââ,¬â"¢s Inc IPO (NYSE: THI) may provide more upside strength. However, the fact still remains that WEN has recently shown some downside movement on extremely high volume. WEN has yet to test the 6 month up trend line, but today could be the day and our Classic Swing Trading system will keep a close eye out for a potential short. Members will be alerted as soon as our system indicates a high reward to risk shorting opportunity.

Triquint Semiconductor (Nasdaq: TQNT) recently formed a descending triangle formation with a base at $4.35. Its two-thirds completion point was reached Friday with a breakthrough on the upside. This, combined with recent news regarding TQNTââ,¬â"¢s new smaller, more efficient CDMA chip for handheld cellular devices, is extremely bullish for the stock. A move through 5.12 resistance levels should prove the stock has room to go. Our Small Cap Trading systems will be watching TQNT today, and alerting members as soon as we feel the time is right to take a long position in the stock.

Andy Swan is co-founder and head trader for DaytradeTeam.com.  To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.