-072412.jpg "Click to enlarge")
7/24/2012 Quarterly CPI (1530 HI time / 2130 EST)
Forecast: 0.6%
Actual: 0.5%
Previous Revision: n/a
INDECISIVE then UPWARD FAN
Started @ 1.0143
1st Peak@ 1.0165 / Reverse to 1.0125 – 1531 (1 min)
22 / -18 ticks
Final Peak @ 1.0191 – 1739 (129 min)
48 ticks
Reversal to 1.0165 – 1946 (256 min)
26 ticks
Notes: Report was initially indecisive with only 0.1% offset from the forecast. This resulted in a quick rise of 22 ticks, followed by a reversal of 40 ticks which would have hit your stop loss after a few seconds with JOBB. In the first minute of the range chart, you can see the rapid swings. 90% of the action occurred in the first 3 seconds. In spite of the initial indecisive reaction, the bulls came out for the long term reaction when the positive reading sank in. The market slowly climbed to a Final peak of 48 ticks at 1.0191 over 2 hrs later. Then the reversal after the 2nd peak yielded only 26 ticks in 2 hrs.