Options Trading News

February 8, 2013  Fri 1:47 AM CT

Friday's economic calendar is uneventful, but next week continues to bring a stream of important global events and data.

The only headline scheduled today is the release of Chinese inflation figures early in the overnight session. Especially high readings may cause worries about tighter monetary policy and hurt sentiment.

The events start next week with a meeting of European finance ministers on Monday and Tuesday. Also on Tuesday President Obama will deliver the annual State of the Union Address.

Wednesday brings U.S. retail sales in the morning and Japanese gross domestic product in the evening.

Germany and the European Union follow with GDP data early the next day. Thursday morning also sees initial jobless claims and Japanese industrial production late at night.

Friday's schedule focuses entirely on the U.S., with the New York Federal Reserve's Empire State Index, industrial productionm and the University of Michigan's consumer sentiment survey.
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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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