CL 04 12 (1 Min) 10.05.11

10/5/2011 Monthly ADP Non-Farm Employment Change (0215 HI time / 0815 EDT)
Forecast: 76K
Actual:91K
Previous Revision: -2K to 89k
Spike with 2nd peak
Started @ 78.76
1st Peak @ 78.97 – 0216 (1 min)
21 ticks

2nd Peak @ 79.02 – 0219 (4 min)
26 ticks

Retrace to 78.66 – 0221 (6 min)
36 ticks

Notes: Report mildly exceeded forecast, but previous report revised slightly downward. Large wick on the 0216 candle due to crossing the 100 SMA and pull from the 50 SMA. I would close out at 78.87 when it hovered a few ticks above the 100 SMA for 12 sec. It did go up higher after the hovering and had a 2nd peak, but I would play it safe since reversals often happen after hovering especially if a higher level SMA was just crossed. Notice the seesaw up and down centered on the 100 SMA for 10 min.