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February 7, 2013  Thu 1:47 AM CT

XRT: SEE CHART GET CHAIN FIND STRATEGIES
There is a wide range of events on today's calendar, including data from both sides of the Atlantic.

German industrial production will be announced at 6 a.m. ET, followed by the European Central Bank's announcement on interest rates at 7:45 a.m. ET. Both headlines could sway sentiment toward equities and energy.

U.S. retailers will publish January same-store sales around the same time. Each company reports its numbers at different times, which could affect trading in that sector.

The Labor Department releases jobless claims at 8:30 a.m. ET. Economists predict a reading of 360,000, down from last week's 368,000. The report indicates the number of people who have lost jobs, so lower figures are generally interpreted bullishly.

Natural-gas inventories follow at 10:30 a.m. ET.
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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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