Both AMGN and QSII are approaching oversold territory (on my stochastic setting) after failing to sustain new highs a few days ago. My guess is that they'll both attempt to bounce off of support in the coming days. But I wouldn't expect much traction before the Fed meeting next Tuesday. As Art Cashin likes to say buyers will likely be keeping their wallets on their hips until after that Fed decision. That's not to say that one shouldn't buy ahead of Tuesday -- that may be a very good idea if you see a good setup and are comfortable with that little bit of extra risk by buying ahead of the Fed...
