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November 25, 2013  Mon 1:47 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
This week's calendar focuses on housing, with the market closed on Thursday for Thanksgiving.

Pending home sales for October will be reported at 10 a.m. ET today. Economists expect an increase of 1.3 percent, compared with a drop of 5.6 percent in the previous month. Qihoo 360 Technology and Seadrill will report earnings before the opening bell, followed by Nuance, Palo Alto Networks, and Perfect World in the afternoon.

Tomorrow brings housing starts, the Case-Shiller and FHFA Home Price indexes, consumer confidence, and the Richmond Federal Reserve's regional activity index. Tiffany, Children's Place, JA Solar, and LDK Solar report earnings in the morning, followed by Hewlett-Packard and TiVo in the afternoon.

Wednesday features durable-goods orders, initial jobless claims (moved forward one day), and the Chicago purchasing managers index.

The market reopens for a half-day on Friday.

Next week is busier, starting with important manufacturing data from China, Europe, and the United States. Attention then turns to key monthly employment numbers between Wednesday and Friday.

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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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