-080911.jpg "Click to enlarge")
8/9/2011 FOMC Statement / FED Funds Rate (0815 HI time / 1415 EDT)
Forecast: n/a
Actual: n/a
DOWNWARD FAN (with initial spike)
Started @ 81.96 (0819)
1st Peak @ 79.49 – 0824 (5 min)
247 ticks
2nd Peak @ 78.86 – 0846 (27 min)
310 ticks
Reverse to 79.97 – 0855 (36 min) / 80.66 – 0920 (61 min)
Notes: *Report broke 4 min late at 0819. Report was underperforming overall as Bernanke pledged to keep interest rates low to 2013, and 3 FOMC members dissented, the highest # since 1992. A Downward Fan was already in progress (note the unchanged slope of the 50 / 100 / 200 SMAs before and after the report release except for the blip from the pre-report spike. DO NOT USE JOBB for this as it can break up to 10 min early or late. Keep an eye on the news and jump in after the announcement in the direction the market is heading. Low point occurred 27 min after report release.