CL 06 12 (1 Min) 05.04.12

5/4/2012 Monthly Unemployment Report (0230 HI time / 0830 EDT)
Non Farm Jobs Forecast: 173K
Non Farm Jobs Actual:115K
Previous Revision:+34K to 154K
Rate Forecast: 8.2%
Rate Actual:8.1%
INDECISIVE then DOWNWARD FAN
Started @ 100.79
1st Peak @ 100.44 / Reverse to 100.90 – 0231 (1 min)
-35 ticks / 11 ticks

Reversal to 101.17
73 ticks

Final Peak @ 97.83 – 0449 (139 min)
296 ticks

Reversal to 98.58 – 0518 (168 min)
67 ticks

Notes: Initially perceived mixed report with disappointing job #s but a drop in the rate coupled with a healthy upward revision to the previous report. This caused indecision on the :31 candle then a moderate move up followed by a huge downward fan as the reason for the drop in the U-3% was digested. over 500K people left the work force to cause the drop, along with the low # of jobs created caused the bearish tone to prevail. The FAN terminated at the S3 at 97.84 over 2 hrs after the report.