-112712.jpg "Click to enlarge")
11/27/2012 Monthly Durable Goods Orders (0330 HI time / 0830 EST)
Core Forecast: -0.6%
Core Actual: 1.5%
Previous revision: -0.3% to 1.7%
Regular Forecast: -0.6%
Regular Actual: 0.0%
Previous Revision: -0.7% to 9.2%
SPIKE/REVERSE
Started @ 88.01
1st Peak @ 88.20 – 0332 (2 min)
19 ticks
Reverse to 87.79 – 0341 (11 min)
41 ticks
Notes: Report came in mostly positive overall with the current reports impressing while the previous revisions were mildly negative. The spike crossed no SMAs or Pivots having just bounced long off of the 50 SMA as support, and was trading in a relatively narrow range with the LOD and HOD only 43 ticks apart. With JOBB you would have filled long at about 88.09 with 1 tick of slippage and had an opportunity to close out with 5-10 ticks on the :32 bar as it approached the HOD. The reversal fought through all 3 SMAs to eclipse the 200 by about 10 ticks, then traded sideways straddling the 200 for about 20 min.