Options Trading News

March 14, 2013  Thu 2:14 AM CT

Today's economic calendar is relatively light, with weekly jobless claims as the main item.

Economists expect that 350,000 people sought employment benefits for the first time for the seven-day period ending March 9, up slightly from the previous week's 340,000 total. A lower reading may be interpreted bullishly because it would mean that fewer Americans lost their jobs. The Labor Department will announce the figure at 8:30 a.m. ET.

February producer prices will be released at the same time. Forecasts look for a headline figure of 0.6 percent, compared with 0.2 percent in January. The core rate, which excludes food and energy, is expected to increase 0.2 percent. Inflation has not been a major focus of the market recently, so the data is unlikely to affect sentiment.

The calendar is more active tomorrow, with consumer prices, the New York Federal Reserve's Empire State Index, industrial production, and consumer sentiment.
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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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