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May 3, 2013  Fri 2:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Non-farm payrolls are the main event on today's calendar.

Economists expect the Labor Department to report 155,000 jobs were added in April, up from 88,000 in the previous month. They also expect the unemployment rate to hold steady at 7.6 percent. Lower numbers on payrolls or higher figures on unemployment could be interpreted bearishly. Both will be released at 8:30 a.m. ET.

The Institute for Supply Management's non-manufacturing index follows at 10 a.m. ET. Economists expect a reading of 54, down from 54.4 in March.

March factory orders also come out at 10 a.m. ET, but those are unlikely to affect sentiment because they cover a period now far in the past.
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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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