CL 03 12 (1 Min) 11.17.11

11/17/2011 Monthly Building Permits (0330 HI time / 0830 EST)
Forecast: 0.60M
Actual:0.65M
Previous revision: none
SPIKE WITH 2ND PEAK
Started @ 101.26
1st Peak @ 101.55 – 0331 (1 min)
29 ticks

2nd Peak @ 101.70 – 0339 (9 min)
44 ticks

Retrace to 101.32 – 0343 (13 min)

Notes: Strong report 0.05M above forecast. Used the 50 SMA as support during retracement between 1st and 3nd peaks. I would get out in the 101.62 range 0336 – 0339 since it hit resistance in that area.