Dec 052012

CL 01 13 (1 Min) 12.05.12

12/5/2012 Monthly ISM Non-Manufacturing PMI (0500 HI time / 1000 EST)
Forecast: 53.6
Actual: 54.7
Previous Revision: n/a
Started @ 88.42
1st Peak @ 88.54 – 0501 (1 min)
12 ticks

Reversal to 88.12 – 0513 (13 min)
42 ticks

Notes: Moderately positive report exceeded the forecast by a point. This caused a small long spike of 12 ticks that was unsustainable and could not reach the 200 SMA only 3 ticks higher. With JOBB, you would have filled long at 88.47 with no slippage, then seen it hover around your fill point to a few ticks positive. I placed my exit on the 200 SMA, and when it did not fill, it took my stop loss at 88.43 (moved up to just below the 100 SMA). The rally terminating 20 min before the report could not reach the 200 SMA, falling about 3 ticks short, matching the peak of the report. Then the reversal fell 42 ticks to cross the 100 and 50 SMAs and the PP Pivot to touch the LOD. Then it rebounded upward just before the oil inventory report.