May 052013

6A 03-13 (1 Min)  2_6_2013 6A 03-13 (2 Range)  2_6_2013

2/6/2013 Monthly Unemployment Report (1930 EST)
Non Farm Jobs Forecast: 5.8K
Non Farm Jobs Actual: 10.4K
Previous Revision: +1.7K to -3.8K
Rate Forecast:  5.5%
Rate Actual: 5.4%
Started @ 1.0288
1st Peak @ 1.0303 –  1931 (1 min)
15 ticks

Reversal to 1.0269 – 1943 (13 min)
34 ticks

Notes:  Moderately positive report that exceeded the forecast on jobs created with the unemployment rate improving by 0.1%, and a small upward revision to the previous report caused a unusually small long spike of only 15 ticks.  With JOBB you would have filled long at about 1.0298 with 3 ticks of slippage.  After the fill you would have seen it only give you a handful of ticks of profit as it flirted with the R1 Pivot.  Look to exit around 1.0301 at the R1 Pivot for 3 ticks.  The overall sentiment is still very bearish with the 6A, as it reversed quickly and greater than the spike on a positive report.  The reversal achieved 34 ticks in a quick 13 min, crossing all 3 SMAs and the PP Pivot with ease.  As volume was drying up, it drifted higher to the PP Pivot and the SMAs.