CL 04 12 (1 Min) 01.05.12

1/5/2012 Monthly ADP Non-Farm Employment Change (0315 HI time / 0815 EST)
Forecast: 176K
Actual:325K
Previous Revision: -2K to 204k
Spike / RETRACE
Started @ 103.46
1st Peak @ 103.71 – 0316 (1 min)
25 ticks

Retrace to 103.31 – 0318 (3 min)
40 ticks

Notes: Report greatly exceeded forecast, as previous report revised barely downward. 0316 candle crossed the PP line by 10 ticks and then held most of its gains. Still this is about as much as an ADP report will deliver…close out above the PP. Reversal erased all the gains back to the 50 SMA. This is pretty remarkable given such a positive report. Volatility continued until 0340 or so also sue to the unemployment claims released at 0330.