-040512.jpg "Click to enlarge")
4/5/2012 Monthly Unemployment Report (0230 HI time / 0830 EDT)
Non Farm Jobs Forecast: 11.3K
Non Farm Jobs Actual:82.3K
Previous Revision: n/a
Rate Forecast: 7.5%
Rate Actual:7.2%
SPIKE WITH 2ND PEAK
Started @ 1.0000
1st Peak @ 1.0060 – 0231 (1 min)
60 ticks
Reversal to 1.0036 – 0239 (9 min)
24 ticks
2nd Peak @ 1.0064 – 0255 (25 min)
64 ticks (28 ticks from reversal)
Reversal to 1.0048 – 0311 (41 min)
16 ticks
Notes: Very positive report showing a large rise in the number of jobs when a smaller gain was expected and a healthy drop in the unemployment rate. The market spiked upward 60 ticks, crossing the 50 and 100 SMAs close to the origin, then quickly retreated to hover at 1.0026 to 1.0036. It also crossed the S1, PP, R1, and R2 lines. With JOBB you would have filled long at about 1.0009, then the conservative play would be to exit at the R1 line at 1.0034 near the top of the hovering. Not surprisingly it reversed back to the R1, then achieved a 2nd peak 4 ticks higher than the original peak, then reversed again for a relatively small retreat as volume and volatility dried up.