6A 12 12 (1 Min) 06.20.12

6/20/2012 CNY HSBC Flash Manufacturing PMI (1630 HI time / 2230 EDT)
Forecast: n/a
Actual: 48.1
Previous Revision: -0.3 to 48.4
Spike WITH 2nd peak
Started @ 1.0001
1st Peak @ 0.9988 – 1634 (4 min)
13 ticks

Reversal to 1.0001 – 1646 (16 min)
13 ticks

2nd Peak @ 0.9986 – 1701 (31 min)
15 ticks

Reversal to 0.9998 – 1744 (74 min)
12 ticks

Notes: Report disappointed the traders, with a small negative previous report revision. This caused a short spike of 13 ticks that peaked on the :34 bar. Since the market was trending lower, no SMAs or Pivots were crossed. With JOBB you would have filled short at 0.0096 with no slippage, and had an opportunity to close out with 4-5 ticks. It reversed to reclaim the 13 tick drop 12 min later, then achieved a 2nd peak of 2 more ticks, testing the LOD 15 min later. The reversal crossed the 50 SMA and eclipsed the 100 SMA for 12 ticks 43 min after the 2nd peak.