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July 25, 2014  Fri 2:45 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Today's calendar is relatively quiet, with a handful of earnings and no major economic news.

AbbVie, LyondellBassell, Tyco, Vodafone, and Xerox issue quarterly results. Germany's Ifo survey of business conditions will be reported early, followed by U.S. durable-goods orders at 8:30 a.m. ET.

Next week begins slowly and then grows very busy.

Monday brings pending home sales, along with earnings from Cummins, Tyson Foods, Masco, and Amkor Technology.

Tuesday features the Case-Shiller index of home prices and consumer confidence. Pfizer, Merck, Amgen, American Express, United Parcel Service, International Paper, and Marriott announce results.

Wednesday is a major day, with the preliminary estimate for second-quarter gross domestic product, ADP's private-sector payroll report and the Federal Reserve's interest-rate decision all scheduled. Hess, Goodyear Tire & Rubber, Akamai, Williams, Kraft Foods, and Phillips 66 release earnings as well.

Thursday features initial jobless claims. Exxon Mobil, Cigna, Expedia, and MasterCard issue results.

The week concludes with non-farm payrolls and the Institute for Supply Management's manufacturing index and construction spending. Procter & Gamble, Chevron, and Clorox are the big names reporting earnings.
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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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