10/4/2011 Monthly Retail Sales (1430 HI time / 2030 EST)
Previous Revision: +0.1% to 0.6%
Spike / RETRACE
Started @ 0.9329
1st Peak @ 0.9359 – 1431 (1 min)
Reversal to 0.9306 – 1451 (21 min)
Notes: Report exceeded the forecast, with a small upward previous report revision. This caused a moderate spike that crossed the 50 SMA and briefly eclipsed the 100 SMA before retreating. After observing the spike barely eclipse the 100 SMA, close out, especially with the 200 SMA looming above. As a downward FAN commenced about 30 min before the report, the positive spike was an overreaching gap close that quickly reversed. Reversal continued with the grain of the FAN yielding 53 ticks from the peak in only 20 minutes.