Options Trading News

November 27, 2012  Tue 1:16 AM CT

Today's economic calendar includes durable-goods orders, home prices, and consumer confidence.

The Commerce Department will report October durable-goods orders at 8:30 a.m. ET. The data includes an overall reading and a core number that excludes volatile aircraft orders. Economists anticipate that both contracted by half a percent following gains of 9.8 percent for the overall number and 2 percent for the core number in September.

The Case-Shiller index of home prices for September follows at 9 a.m. ET, with forecasters expecting an increase of 3.1 percent. The tone has been positive in real estate for several months, so a strong reading could further boost housing stocks. The FHFA housing price index, which is similar but less closely followed, will also be released one hour later.

The Conference Board will publish consumer confidence at 10 a.m. ET. Economists expect it to inch higher to 73 from 72.2 last month. Also at 10 a.m. ET, the Richmond Federal Reserve will report its monthly manufacturing index.
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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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