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September 10, 2013  Tue 1:47 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Today's main economic event occurred during the overnight session when China reported industrial production and retail sales.

The only other item on the calendar was Italian gross domestic product, also released early in the morning.

Both events have the potential to add to recent sentiment that the global economy is improving. Their impact could be felt most strongly in materials stocks and funds that track overseas assets such as the iShares MSCI Emerging Markets (EEM) emerging-markets fund.

In addition to the headlines, attention will focus on the possibility of military conflict with Syria. President Obama is scheduled to address the country in favor of an attack tonight, followed by a possible  Senate vote on the matter as early as tomorrow. So far, the political tide and public opinion have turned against war.

The next busy day for economic news is Thursday, featuring European industrial production and initial jobless claims. Friday brings retail sales and consumer sentiment. 
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Timing the Trade

Both break outs and a break downs need to have a couple things happen before it is considered a confirmed break out or break down by technical definition!  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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