Dec 022011

6C 06 12 (1 Min) 12.02.11

12/2/2011 Monthly Unemployment Report (0200 HI time / 0700 EST)
Non Farm Jobs Forecast: 18.1K
Non Farm Jobs Actual:-18.6K
Previous Revision: n/a
Rate Forecast: 7.3%
Rate Actual:7.4%
Started @ 0.9864
1st Peak @ 0.9823 – 0201 (1 min)
41 ticks

2nd Peak @ 0.9821 – 0208 (8 min)
43 ticks

Reversal to 0.9855 – 0226 (26 min)
34 ticks

Notes: Overall negative report showing the exact opposite result of jobs lost compared to the forecast, and an increase in the unemployment rate by 0.1%. This caused a spike downward of 41 ticks, crossing all three major SMAs and the R1 line at various points on its path downward. The :01 candle could not sustain its drop and retreated back to the 200 SMA. Still it is common for this report to achieve a peak on a later candle, so it would be okay to wait it out. The :08 candle dipped 2 more ticks lower than the original peak. The reversal saw another dip before recovering most of the drop nearly 20 minutes later and having little trouble crossing the SMAs.