CL 04 12 (1 Min) 03.01.12

3/1/2011 Monthly ISM Manufacturing PMI (0500 HI time / 1000 EDT)
Forecast: 54.6
Actual:52.4
Previous revision: n/a
SPIKE / RETRACE
Started @ 107.65
1st Peak @ 107.24 – 0401 (1 min)
41 ticks

Reversal to 107.97 – 0402 (2 min)
73 ticks

Notes: Report fell short of forecast causing a 41 tick spike that fought through the 100 and 200 SMAs bottoming out just below the 200 and hovering in that area. Since it stalled just below the 200, this is as much as you are going to get out of this report. The reversal was caged between the 100 and the 200 for 10 minutes then broke out long, straddled the 50 and rose for a 73 tick rise up to 107.97 at 0526.