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July 9, 2013  Tue 1:16 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Today's economic calendar is mostly empty, with overseas data the only events.

Chinese retail sales and inflation numbers, released last night, may affect trading this morning--especially in commodities.

The only scheduled event on the today's calendar is the Bank of Japan's interest-rate announcement tonight. The news could affect trading because strong Japanese equities and a weak yen have helped support global sentiment this year.

Tomorrow remains relatively quiet, with French and Italian industrial production scheduled for the morning. The Federal Reserve will also release minutes from its last meeting in the afternoon.

The agenda is more active on Thursday as retailers report same-store sales and the Labor Department announces initial jobless claims.
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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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