4/23/2013 Quarterly CPI (2130 EDT)
Forecast: 0.7%
Actual: 0.4%
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 1.0235
1st Peak@ 1.0196 – 2131 (1 min)
39 ticks
Reversal to 1.0217 – 2134 (4 min)
21 ticks
2nd Peak @ 1.0193 – 2151 (21 min)
42 ticks
Reversal to 1.0209 – 2158 (28 min)
17 ticks
Notes: This report was moderately negative, resulting in a quick short spike of 39 ticks that was slightly unsustainable as it left 9 ticks on the tail naked. The spike crossed all 3 major SMAs near the origin and nearly reached the S1 Pivot while extending the LOD by 21 ticks. With JOBB, you would have filled short at about 1.0224 with 4 ticks of slippage. You would have seen it drop all the way to 1.0200 quickly and then chop sideways between 1.0200 and 1.0215 for the majority of the :31 bar, then a final drop to 1.0196 and rebound to 1.0205 as the bar expired. Look to exit at about 1.0202 at the S1 Mid Pivot for about 20 ticks. After the 1st peak, we saw a quick and large reversal of 21 ticks in 3 bars that could not quite reach the 13 SMA. Then it fell again for a 2nd Peak of 3 more ticks on the :51 bar, before reversing for 17 ticks to nearly reach the PP Pivot 7 min later. Then it chopped sideways between the LOD and the S1 Mid Pivot.