-120711.jpg "Click to enlarge")
12/7/2011 Monthly Unemployment Report (1430 HI time / 1930 EST)
Non Farm Jobs Forecast: 10.3K
Non Farm Jobs Actual:-6.3K
Previous Revision:+6.7K to 16.8K
Rate Forecast: 5.2%
Rate Actual:5.3%
SPIKE / RETRACE
Started @ 1.0172
1st Peak @ 1.0121 – 1431 (1 min)
51 ticks
Reversal to 1.0149 – 1502 (32 min)
28 ticks
Notes: Strongly negative report that fell short of the forecast with a good size positive revision to the previous report causing a large spike downward. The market shot down and seesawed / ratcheted down for 5 sec, then sideways for another 15 sec, and then hovered at about 1.013 for 10 sec. Close out there about 10 ticks off the bottom. After the 1431 candle, the market trickled down to almost hit the low point, then reversed 28 ticks in the next 20 min.