-051812.jpg "Click to enlarge")
5/18/2012 Monthly Core CPI / CPI Report (0230 HI time / 0830 EDT)
Core CPI Forecast: 0.2%
Core CPI Actual:0.4%
Previous Revision: n/a
CPI Forecast: 0.3%
CPI Actual:0.4%
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 0.9834
1st Peak @ 0.9850 – 0231 (1 min)
16 ticks
2nd Peak @ 0.9856 – 0235 (5 min)
22 ticks (3x top)
Reversal to 0.9826 – 0314 (44 min)
30 ticks (2x bottom)
Notes: Moderately strong report exceeding the forecast for both the core and regular CPI readings. This caused a spike upward of 16 ticks that crossed no SMAs, but started on the PP Pivot. This caused the pullback on the 31 bar, but it eventually regained its footing and went for a 2nd peak of 22 ticks on the :35 bar. The reversal reclaimed 30 ticks in 40 minutes fighting through all of the SMAs to touch the 200 SMA.