CL 03 12 (1 Min) 10.25.11

10/25/2011 Monthly CB Consumer Confidence (0400 HI time / 1000 EDT)
Forecast: 46.1
Actual: 39.8
Previous revision: +1.0 to 45.2
SPIKE WITH 2ND PEAK
Started @ 93.66
1st Peak @ 93.40 – 0401 (1 min)
26 ticks

2nd Peak @ 93.13 – 0409 (9 min)
53 ticks

Reversal to 93.96 – 0421 (21 min)
83 ticks

Notes: Report strongly fell short of forecast causing a healthy spike, 2nd peak, and follow on full reversal . About 25 ticks of the 0400 candle was a drop in the last second, so you would get some of that with JOBB. Market peaked between the 50 SMA and the R1 line, then retraced to approach the 100 SMA before falling to hit the R1 line. Then it reversed to go above the 100 SMA. I would trade this with JOBB, ride the retrace and close out after it hit the R1 line at 0409 around 93.20.