May 112012
 


6C 06 12 (1 Min) 05.11.12

5/11/2012 Monthly Unemployment Report (0230 HI time / 0830 EDT)
Non Farm Jobs Forecast: 10.1K
Non Farm Jobs Actual:58.2K
Previous Revision: n/a
Rate Forecast: 7.3%
Rate Actual: 7.3%
INDECISIVE then UPWARD FAN
Started @ 0.9945
1st Peak @ 0.9910 / Reversal to 1.0001 – 0231 (1 min)
-35 ticks / 56 ticks

2nd Peak @ 1.0038 – 0403 (93 min)
93 ticks

Reversal to 0.9978 – 0956 (446 min)
60 ticks

Notes: Very positive report showing a large rise in the number of jobs when a smaller gain was expected but no change in the unemployment rate. The market spiked down prematurely on the :30 bar and then gapped the transition between the :31 bar by 56 ticks. This is bizarre and anomalous, yet was a recipe for a loss with JOBB as you would have filled short and gotten stopped out on the long reversal. With the strong report, the market did a short term small correction, then continued to rally and FAN up to 1.0038 for a total of 93 ticks from the origin.