Options Trading News

May 8, 2013  Wed 2:14 AM CT

The economic calendar remains relatively quiet today, with European data potentially the biggest potential catalyst.

Germany is scheduled to report the month-over-month change in industrial production. Given its position as a major exporter and the biggest economy in Europe, the news could sway sentiment toward the broader market. It will be announced at 6 a.m. ET.

In the United States, the Mortgage Bankers Association releases loan-application numbers at 7 a.m. ET, followed by the change in crude-oil inventories at 10:30 a.m. ET. Both are regular weekly reports.

Tomorrow's schedule is more active as retailers report monthly same-store sales and the Labor Department announces weekly jobless claims.
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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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