-072611.jpg "Click to enlarge")
7/26/2011 Quarterly CPI (1530 HI time / 2130 EDT)
Forecast: 0.7%
Actual: 0.9%
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 1.0648
1st Peak@ 1.0751 – 1534 (4 min)
103 ticks
2nd Peak @ 1.0772 – 1541 (11 min)
124 ticks
Reversal to 1.0735 – 1649 (79 min)
37 ticks
Notes: SET JOBB to :57 seconds to avoid the premature opposite spike. Report was positive, exceeding expectations. This caused a healthy spike, with a follow on peak at 11 min later. Spike crossed all three SMAs on the up spike, but very close to the origin. I would wait for the 2nd peak at 11 min. Notice there was no significant pullback after the 1st candle either. Reversal yielded 37 ticks, but took over an hour to achieve its max just short of the 100 SMA. 24 ticks of the reversal were achieved in 4 minutes, but the other 13 ticks took about an hour.