Options Trading News

July 27, 2012  Fri 1:15 AM CT

Today's economic calendar will focus on the second-quarter GDP report at 8:30 a.m. ET.

The consensus forecast calls for a reading of 1.2 percent, a decline from the first quarter's 1.9 percent. Estimates range from 0.9 percent to 2.24 percent.

The GDP price index is expected to come in at 1.6 percent, down from the 2 percent print in the previous quarter. The range of estimates for this figure is 1.2 percent to 2.2 percent.

Consumer sentiment for July will be released at 9:55 a.m. ET. The number is expected to remain unchanged from June at 72, within an estimated range of 71 to 75.
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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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