-092512.jpg "Click to enlarge")
9/25/2012 Monthly CB Consumer Confidence (0400 HI time / 1000 EDT)
Forecast: 63.1
Actual: 70.3
Previous revision: +0.7 to 61.3
SPIKE WITH 2ND PEAK
Started @ 92.53
1st Peak @ 92.97 – 0401 (1 min)
44 ticks
2nd Peak @ 93.08 – 0412 (12 min)
55 ticks
Reversal to 92.64 – 0440 (40 min)
44 ticks
Notes: Report strongly exceeded forecast along with a small upward previous revision causing a healthy spike, 2nd peak, and follow on reversal . The spike crossed all 3 major SMAs and the R2 Pivot on the rise with ease. At it pulled away from the peak it left 10 ticks naked on the wick and drifted another 9 ticks lower to test the 100 SMA, but was able to use it as support and achieve a 2nd peak of 11 more ticks on the :12 bar at 93.08, a level of resistance demonstrated on the bullish trend in the last 3 hrs. With JOBB, you would have filled at about 92.64 with 4 ticks of slippage, then had an opportunity to close out at about 92.90 with 26 ticks where it slowly pulled away from the peak. It would also be a safe trade to short the reversal from the 2nd peak with the clear resistance at 93.08 and the 3 SMAs about 30 ticks lower. Close out when it penetrates the 200.