10/19/2011 Monthly Building Permits (0230 HI time / 0830 EDT)
Previous revision: +0.01M to .63M
SPIKE WITH 2ND PEAK
Started @ 88.90
Peak@ 89.12 – 0231 (1 min)
2nd Peak@ 89.17 – 0233 (3 min)
Notes: Report came in close enough to the forecast and previous report was revised upward but reaction was reaction was opposite of expected. The 200 and 100 SMAs drove the retracement and 2nd peak. Price moved upward after 0233 until 0250, but this is after the short term reaction of the report.