Oct 032011
 


CL 03 12 (1 Min) 10.03.11

10/3/2011 Monthly ISM Manufacturing PMI (0400 HI time / 1000 EDT)
Forecast: 50.5
Actual:51.6
Previous revision: n/a
SPIKE WITH 2ND PEAK
Started @ 77.59
1st Peak @ 78.42 – 0403 (3 min)
83 ticks

2nd Peak @ 78.86 – 0414 (14 min)
127 ticks

Reversal to 78.22 – 0424 (24 min)
64 ticks

Notes: Report exceeded forecast causing a healthy spike, 2nd peak, and follow on reversal . 1st peak crossed the50 SMA about halfway up, and the 100 SMA near its apex, then retreated to the 100 SMA. The retracement between peaks came to bounce off of the 50 SMA then a determined rise to cross the 100 SMA easily and then the 200 SMA. I would watch the 0411 candle and seeing it clear the 200 SMA remain in until 0414-0415 as it nearly triple topped.