Options Trading News

February 22, 2013  Fri 1:47 AM CT

No U.S. economic releases are scheduled for today, though the overseas calendar is active.

German economic growth and the country's IFO survey of business confidence will come out overnight. The international news continues with Italian elections on Sunday and Monday.

In addition, China's HSBC manufacturing purchasing managers index will be released Sunday night. That could affect sentiment at the start of next week.

Tuesday will bring the Case-Shiller index of home prices and new home sales. Durable-goods orders follow on Wednesday, along with U.S. economic growth data on Thursday. Friday will see consumer sentiment, construction spending, and the Institute of Supply Management's key manufacturing index.

Non-farm payrolls, normally reported the first Friday of each month, will be released one week later on March 8.
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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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