11/22/2012 German Flash Manufacturing PMI (2230 HI time / 0330 EST)
Previous Revision: +0.3 to 46.0
SPIKE WITH 2ND PEAK
Started @ 1.2848 (2228)
1st Peak @ 1.2855 – 2233 (5 min)
2nd Peak @ 1.2871 – 2303 (35 min)
Reversal to 1.2849 – 2334 (66 min)
Notes: Report breaks 2 min early at 2128. The reading came in nearly 1 point above the forecast to mildly impress. This also broke on the evening before the US Thanksgiving holiday with considerable less market volume. This caused a dull 7 tick long spike over 5 bars that had to contend with the 100/200 SMAs a few ticks above the origin. The light volume, narrow report offset, and close SMAs all restrained the initial spike. With JOBB you would have filled long at about 1.2851 with no slippage. Look to exit at the R2 Pivot for 3 ticks. After the 1st peak, it briefly reversed to touch the 100/200 SMAs, then ascended for a 2nd peak of 23 ticks 30 min later. Then it reversed nearly back to the origin for 22 ticks in 30 min. After that it trended upward.