The market is in a holding pattern as we await the Janet Yellen speech at 12.20 pm E.T. It is much like FOMC announcement day, when there just isn't much to do until the news event is out of the way.
The likelihood is that we have some whipsaws to navigate, so there is no real benefit to trying to position before the news is actually out.
Interesting we have some strength in SPDR Gold Shares (GLD) and iShares 20+ Year Treasury Bond (TLT), which would indicate anticipation of a dovish bias, but the indices are seeing some pressure and breadth is almost two to one positive. I'm not sure what the market is hoping for at this point, but it always seems to find a positive spin to appreciate.
My Stock of the Week, Square (SQ) continues to act well, but it is another day of slow and random action. Last week's Stock of the Week, ORBCOMM (ORBC), is shaping up nicely also, but until Janet Yellen is out of the way it is tough to do much.
Stay patient and work on those watch lists. There are some decent chart setups, but when the central bankers are on stage the technicals don't matter much.