For example, Bloomberg's economic calendar shows that at 0830am tomorrow morning, there will be "personal income and outlays" announcement. According to Bloomberg, this is a "market moving indicator". So, lets say this announcement is negative and thus, you conclude that the market will move down. Can you place a call credit spread on an option that generally follows the DJI, such as OEX, just after the announcement to try and take advantage of the bad news? Or, will the market adjust before you are able to take a position?