5/29/2012 Monthly Retail Sales (1530 HI time / 2130 EDT)
Previous Revision: +0.2% to 1.1%
Spike / RETRACE
Started @ 0.9794
1st Peak @ 0.9758 – 1531 (1 min)
Reversal to 0.9778 – 1543 (13 min)
Notes: Report fell short of the forecast, with a small upward previous report revision. This caused a rapid short spike that would have filled your short JOBB entry with higher than normal 7-8 ticks of slippage. With all the major SMAs higher than the price action, the only barrier to cross was the S1 Pivot about halfway down the path of the :31 bar. It held most of its drop after the :31 bar and had a another test of the low on the :33 bar for 1 more tick. Then it reversed for 20 ticks in 10 min to touch the 20 SMA.