Options Trading News

January 11, 2013  Fri 1:16 AM CT

Today's event calendar is quiet, with this morning's quarterly report from Wells Fargo as the main scheduled item.

Next week will bring several earnings reports from major companies in the financial sector: Morgan Stanley begins the parade on Monday, followed by Goldman Sachs and JP Morgan on Wednesday. Citigroup and Bank of America issue their numbers the following day.

In addition to those reports, monthly retail sales will be released on Tuesday. Chinese gross domestic product comes out Thursday night.

Financials have been very strong in the last month, but the U.S. sector has disappointed of late. Chinese data has also been better than expected recently.

Homebuilder Lennar also reports on Tuesday. Semiconductor giant Intel announces earnings on Thursday and blue-chip industrial General Electric releases its numbers on Friday.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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