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April 17, 2013  Wed 2:14 AM CT

XLF: SEE CHART GET CHAIN FIND STRATEGIES
Today's calendar is dominated by quarterly results as earnings season gets into full swing.

Companies including Bank of America and Textron issue their reports this morning. American Express and eBay will follow after the closing bell.

There are three economic releases. The Mortgage Bankers Association will report weekly loan applications at 7 a.m. ET, which could move housing stocks. The Energy Department will announce crude-oil inventories at 10:30 a.m. ET.

The most important will probably be the Federal Reserve's Beige Book of economic activity at 2 p.m. The report is a survey of economic conditions across the country.
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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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