7/23/2013 CNY HSBC Flash Manufacturing PMI (2145 EDT)
Forecast: 48.6
Actual:47.7
Previous Revision: -0.1 to 48.2
SPIKE WITH 2ND PEAK
Started @ 3.1975
1st Peak @ 3.1835 – 2147 (2 min)
28 ticks

2nd Peak @ 3.1730 – 2153 (8 min)
49 ticks

Reversal to 3.1805 – 2157 (12 min)
15 ticks

Notes: Report disappointed the traders, with a negligible previous report revision with a reading substantially below 50. This caused a short spike of 28 ticks that bottomed on the :47 bar at the S1 Pivot after crossing the 50 SMA close to the origin. The market had been trending lower for about 2 hours before the report with the SMAs falling, so the short spike started as it was struggling with the 50 SMA. With JOBB, you would have filled short at 3.1935 with 3 ticks of slippage. Look to exit near the S1 Mid Pivot at about 3.1865 with about 14 ticks or if you were patient and know the report peaks later, go for about 20 or so ticks. After the 1st peak, it briefly stalled, then continued lower for another 21 ticks in the next 6 min as it crossed the S2 Mid Pivot. Then it reversed for 15 ticks in 4 min, nearly reaching the 20 SMA.