CL 03 12 (1 Min) 09.08.11

9/8/2011 Monthly Trade Balance (0230 HI time / 0830 EDT)
Forecast: -50.6B
Actual: -44.8B
Previous Revision: +1.5B to -51.6B
INDECISIVE
Started @ 90.11
1st Peak @ 90.21 / 90.00 – 0231 (1 min)
39 ticks

Retrace to 85.01 – 0239 – 0242 (4-9 min)
37 ticks

Notes: Report strongly exceeded forecast, and previous report revised mildly upward. Report broke on Thursday at the same time as weekly unemployment claims (disappointed at 414K). I would not trade this report with 2 medium movers breaking at the same time. Due to offsetting positive and negative reports, the market was indecisive.