-050912.jpg "Click to enlarge")
5/9/2011 Monthly Unemployment Report (1530 HI time / 2130 EDT)
Non Farm Jobs Forecast: -4.8K
Non Farm Jobs Actual:15.5K
Previous Revision:-6.4K to 37.6K
Rate Forecast: 5.3%
Rate Actual:4.9%
SPIKE WITH 2ND PEAK
Started @ 1.0024
1st Peak @ 1.0060 – 1531 (1 min)
36 ticks
2nd Peak @ 1.0083 – 1620 (50 min)
59 ticks
Reversal to 1.0036 – 1736 (126 min)
47 ticks
Notes: Very Strong positive report that exceeded the forecast with a mild downward revision to the previous strong report (not surprising) causing a healthy spike upward. The 1531 candle rose 36 ticks crossing the 50 SMA near the origin and the R1 Pivot near the peak. The peak was achieved late in the candle at about 37 sec into the :31 candle after hovering for 20 sec between 1.0045 and 1.0055 (ideal and safe exit). After a quick and small pullback, it sought out a 2nd peak gradually rising for another 23 ticks in 50 minutes. The reversal yielded 47 ticks over an hour after the 2nd peak dipping below the 200 SMA.