Feb 082014

6J 03-14 (1 Min)  1_17_2014

1/17/2014 Monthly Building Permits / Housing Starts (0830 EST)
Building Permits
Forecast: 1.01M
Actual: 0.99M
Previous revision: +0.01M to 1.02M
Housing Starts
Forecast: 0.99M
Actual: 1.00M
Previous revision: +0.02M to 1.11M
Started @ 0.009583
1st Peak @ 0.009579 – 0831 (1 min)
4 ticks

Reversal to 0.009591 – 0836 (6 min)
12 ticks

Extended Reversal to 0.009599 – 0905 (35 min)
20 ticks

Notes: Report was matching overall with the BLDG Permits slightly falling short and the Housing starts slightly exceeding the forecast. This caused a muted 4 tick short move that eclipsed the 100/200 SMAs, then pulled back. With JOBB, you would have filled short at 0.009580 with no slippage, then seen it get stuck between breakeven and -1 tick for most of the bar. Due to the matching report and strong support barrier, look to exit with 1 tick loss. After the peak, it reversed for 12 ticks in 6 min and another 8 ticks 30 min later, as it crossed the R1 Mid Pivot. Then it fell back to the 200 and PP Pivot 15 min later.