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August 27, 2013  Tue 1:47 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Home prices and consumer confidence are the main events on today's calendar.

Due at 9 a.m. ET, the Case-Shiller index of home prices is expected to show an increase of 12 percent for June, compared with 12.2 percent the previous month. The data could affect sentiment toward homebuilders.

Consumer confidence follows one hour later. Economists forecast a reading of 77, down from 80 in July. A higher reading would be considered bullish, while a lower number would likely be viewed negatively.

The Richmond Federal Reserve will also release its regional activity index at 10 a.m., but that is unlikely to sway sentiment.

Tiffany is the only S&P 500 company reporting earnings, scheduled for before the opening bell. TiVo follows in the afternoon.
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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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