Aug 242011
 


CL 03 12 (1 Min) 08.24.11

8/24/2011 Monthly Durable Goods Orders (0230 HI time / 0830 EDT)
Core Forecast: -0.3%
Core Actual:0.7%
Previous revision:+0.5% to 0.6%
Regular Forecast: 2.1%
Regular Actual:4.0%
Previous Revision:+0.8% to -1.3%
SPIKE/RETRACE
Started @ 86.17
Peak @ 86.97 – 0235 (5 min)
80 ticks (2x top)

Retrace to 86.61 – 0240 (10 min)
36 ticks

Notes: Strong report came in well above forecast with large correction to previous report causing a healthy spike and minimal follow on reversal. Look for the peak after 4-5 min. If you miss it, wait for it to come back up again to the general area of the 1st peak (the 0241 candle rose to 86.93 – 4 ticks off the peak).