-091411.jpg "Click to enlarge")
9/14/2011 Monthly Retail Sales (0230 HI time / 0830 EDT)
Core Forecast: 0.2%
Core Actual:0.1%
Previous revision:-0.2% to 0.3%
Regular Forecast: 0.2%
Regular Actual:0.0%
Previous Revision:-0.2% to 0.3%
SPIKE WITH 2ND PEAK
Started @ 90.36
1st Peak @ 90.17 – 0231 (1 min)
19 ticks
2nd Peak @ 90.07 – 0233 (3 min)
29 ticks
Reversal to 90.54 – 0246 (16 min)
47 ticks
Notes: Report fell short of forecast causing a moderate downward spike and follow on reversal . Spike had to fight through the 200 SMA (long tail on the 0231 candle) then the reversal peaked just above the 100 and 50 SMAs. Reports broke at same time as the PPI report which was mildly positive, taking away some of the momentum from the spike. I would trade this report as PPI is a light mover and would only moderate or amplify the retail sales effect.