CL 03 12 (1 Min) 08.30.11

8/30/2011 Monthly CB Consumer Confidence (0400 HI time / 1000 EDT)
Forecast: 52.1
Actual: 44.5
Previous revision: -0.3 to 59.2
SPIKE WITH 2ND PEAK
Started @ 88.41
1st Peak @ 87.87 – 0401 (1 min)
54 ticks (2x bottom)

2nd Peak @ 87.64 – 0406 (6 min)
77 ticks

Reversal to 88.29 – 0415 (15 min)
65 ticks

Notes: Report strongly fell short of forecast causing a healthy spike, 2nd peak, and follow on minimal reversal . Market peaked just below the 100 SMA , then dropped to the 200 SMA and reversed a level between the 50 SMA / R1 line and the 100 SMA.