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April 19, 2013  Fri 1:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
There are no economic reports scheduled for today, but three blue-chip companies will report earnings this morning.

General Electric, Honeywell, and McDonald's will each release quarterly results before the opening bell.

Next week returns the focus to macro-economic news as corporate releases continue to flow. Monday brings the Chicago Federal Reserve's regional economic index and existing home sales in the morning, then Chinese manufacturing data in the evening.

Germany and the Eurozone follow with similar data on Tuesday. The U.S. housing market will also be in focus as the FHFA releases its price index and the Commerce Department reports new home sales.

Wednesday brings durable-goods orders and Thursday features weekly jobless claims. Friday sees the release of first-quarter gross domestic product.
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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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