CL 04 12 (1 Min) 09.15.11

9/15/2011 Monthly Philly FED Manufacturing Index (0400 HI time / 1000 EDT)
Forecast: -14.7
Actual:-17.5
Previous revision: n/a
INDECISIVE
Started @ 90.84
1st Peak @ 90.69 / retrace to 91.01 – 0401 (1 min)
-15 ticks / 17 ticks

Notes: Report fell mildly short of forecast causing an indecisive volatile at 0401. Also notice the pre-report market position was right on the R1 line which acts as a gravity pull. With JOBB, you would have gotten in short and then retraced 10 ticks before the first second passed by. Then it rose methodically upward for 40 sec to go 17 ticks above the candle entry, before giving that back in the last 20 sec. The stop loss would have gotten you out here. It did a spike/retrace on the following candles, but the long wicks and tails indicate much volatility, but after the 0401 candle, you never know what it will do.