4/2/2013 Monthly Retail Sales (2030 EDT)
Forecast: -1.00B
Actual: -0.18B
Previous Revision: -0.16B to -1.22B
SPIKE/REVERSE
Started @ 1.0392
1st Peak @ 1.0409 – 2034 (4 min)
17 ticks
Reversal to 1.0392 – 2126 (56 min)
17 ticks
Notes: Report exceeded expectations, but was offset by a moderate downward revision to the previous report. This caused a 17 tick long spike that crossed the 50/100 SMAs near the origin, extending the HOD to peak on the :34 bar. With JOBB your order would have filled long at about 1.0398 with 2 ticks of slippage, then you would have been able to get up to 10 ticks if you were patient and exited at about 1.0408 where the R1 mid Pivot was eclipsed. After the initial spike, it reversed slowly to the 50 SMA, then attempted a 2nd peak, but could not go any higher than 1.0408 before falling for the reversal back to the level of the origin 15 min later. After that volume dried up and it traded sideways.