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November 26, 2013  Tue 1:47 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Today's calendar focuses on residential real estate, with some other key reports.

Housing starts and building permits for October get the ball rolling at 8:30 a.m. ET. Economists expect annualized readings of 920,000 and 932,000. September numbers will be released at the same time, delayed because of last month's government shutdown.

The Case-Shiller and FHFA home price indexes follow at 9 a.m. ET. Case-Shiller is expected to show a 13 percent increase for September, while there are no forecasts for FHFA.

Consumer confidence at 10 a.m. ET is probably the most important data point. Economists anticipate a reading for 72.4, up from 71.2 in October. The Richmond Federal Reserve also releases its regional economic-activity index at the same time.

Companies issuing results this morning include Barnes & Noble, Chico's, JA Solar, LDK Solar, and Tiffany. Technology heavyweight Hewlett-Packard and chip maker Analog Devices follow in the afternoon.

Tomorrow's agenda includes durable-goods orders in the morning, initial jobless claims (moved up from Thursday because of Thanksgiving), the Chicago Fed's regional index, and the Chicago purchasing managers index.

The market is closed all day Thursday and closes at 1 p.m. ET on Friday.

Next week is busy, starting with important global manufacturing data and ending with key employment numbers.
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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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