CL 03 12 (1 Min) 10.14.11

10/14/2011 Monthly Retail Sales (0230 HI time / 0830 EDT)
Core Forecast: 0.2%
Core Actual:0.6%
Previous revision:+0.4% to 0.5%
Regular Forecast: 0.5%
Regular Actual:1.1%
Previous Revision:+0.3% to 0.3%
SPIKE WITH 2ND PEAK
Started @ 86.52
1st Peak @ 86.89 – 0231 (1 min)
37 ticks

2nd Peak @ 87.05 – 0246 (16 min)
53 ticks

Reversal to 86.65 – 0300 (30 min)
40 ticks

Notes: Strong report came in well above forecast causing a healthy spike and smaller reversal. After initial spike, market hovered in the realm of the R2 line, and eventually peaked about 10 ticks above. After seeing the apex of the 0231 candle, I would close out at the R2 line at 86.95. Notice the reversal bottomed out on the 0300 candle and the 0301 candle spiked up again at the open.