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July 11, 2013  Thu 1:47 AM CT

XRT: SEE CHART GET CHAIN FIND STRATEGIES
Monthly same-store sales and weekly jobless claims are the main events on the economic calendar today.

Retailers will announce their numbers independently throughout the morning, which could affect trading in that industry.

Jobless claims are scheduled for 8:30 a.m. ET. Economists expect a reading of 345,000, compared with 343,000 in the previous week. Lower readings would be positive because it would mean that fewer Americans have lost their jobs.

Perhaps more importantly, the Bank of Japan announced its monetary policy in the overnight session. That could affect sentiment globally.

Friday's calendar features producer prices and consumer sentiment. The Commerce Department is also slated to announce national retail sales on Monday morning, which has the potential to drive stocks higher or lower.
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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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