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November 15, 2013  Fri 2:45 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
There are only minor reports on today's event calendar.

The New York Federal Reserve will publish its regional Empire manufacturing index at 8:30 a.m. ET. Economists forecast a reading of 4.3, up from 1.5 in October. While the report doesn't generally affect sentiment, it is a useful forward-looking indicator.

Export and import prices come from the Commerce Department at the same time, but they usually don't affect trading.

The national Federal Reserve releases industrial production at 9:15 a.m. ET, but it's unlikely to sway sentiment because the numbers cover the previous month of October.

Next week begins quietly as well, with nothing on Monday except quarterly results before the opening bell from companies including Tyson Foods and Urban Outfitters. Salesforce.com, Brocade Communications, and Jacobs Engineering follow in the afternoon.

Tuesday brings international data: German's Zew survey of economic sentiment in the morning and the Bank of Japan's monetary announcement in the evening.

Wednesday is the busiest day, with U.S. retail sales for October, initial jobless claims, consumer prices, existing-home sales, and minutes from the last Fed meeting. There is advance Chinese manufacturing data in the evening and similar European numbers Thursday morning.

Thursday also brings initial jobless claims, producer prices, and the Philadelphia Fed's regional activity index.

Next week concludes with German data early Friday: gross domestic product and the Ifo investment-sentiment index.
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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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