4/22/2013 CNY HSBC Flash Manufacturing PMI (2145 EDT)
Forecast: 51.4
Actual: 50.5
Previous Revision: -0.1 to 51.6
SPIKE WITH 2ND PEAK
Started @ 1.0213
1st Peak @ 1.0188 – 2147 (2 min)
25 ticks
2nd Peak @ 1.0180 – 2203 (18 min)
33 ticks
Reversal to 1.0192 – 2227 (32 min)
12 ticks
Notes: Report mildly disappointed the traders, with a negligible previous report revision. This caused a short spike of 25 ticks that peaked on the :47 bar. The market had been trending slightly lower before the report below the SMAs for the most part, so the short spike was able to use the 100 / 50 SMAs as resistance to propel the fall and bottomed at the S2 Mid Pivot. With JOBB, you would have filled short at 1.0206 with 3 ticks of slippage. Look to exit on the S2 Mid Pivot at about 1.0188 on the :48 bar with about 18 ticks. After the 1st peak, it was able to fall for another 8 ticks for a 2nd peak, then chopped sideways and eventually rallied to eclipse the 50 SMA for 12 ticks about 15 min after the 2nd peak. Then it chopped sideways between the LOD and 1.0192.