9/2/2012 Monthly Retail Sales (1530 HI time / 2130 EDT)
Previous Revision: +0.2% to 1.2%
Spike / RETRACE
Started @ 1.0258
1st Peak @ 1.0226 – 1532 (2 min)
Reversal to 1.0241 – 1603 (33 min)
Notes: Report strongly fell short of the forecast, with a moderate upward previous report revision. This caused a 2 bar short spike of 32 ticks that was able to sustain its drop. The spike crossed the 100 and 50 SMAs near the origin and found support just below the S2 Pivot. The reversal only recovered 15 ticks in about 30 min. As this report broke on a Sunday evening, it was not recommended for trading. The light volume of trading is evident in the bar behavior before and after the report. If you had used JOBB, you would have likely seen an excess of 10 ticks of slippage and come away with only a few ticks as it fell quickly.