9/7/2011 FED Beige Book (0800 HI time / 1400 EDT)
SPIKE / REVERSAL (REPEATED)
Started @ 90.28
1st Peak @ 89.87 – 0808 (8 min)
2nd Peak @ 89.72 – 0824 (24 min)
Notes: Report was underperforming overall showed conflicting weak growth / stagnation, or contraction in all 12 sectors. This caused a less disciplined and chaotic drop with volatile retracement and long wicks / tails. I would not use the JOBB software, wait until seeing the 0801 and 0802 candles with long wicks and place a short order then I would close out in the area around 89.90 on the long red candle at 0808. This is not a methodical fan, but more of a spike.