CL 05 12 (1 Min) 03.16.12

3/16/2012 Monthly Industrial Production (0315 HI time / 0915 EDT)
Forecast: 0.4%
Actual:0.0%
Previous revision:+0.4% to 0.4%
Spike / RETRACE
Started @ 106.36
1st Peak @ 106.18 – 0317 (2 min)
18 ticks
2nd Peak @ 106.17 – 0320 (5 min)
19 ticks

Reverse to 106.38 – 0327 (12 min)
21 ticks (2x top)

Notes: Report fell short of forecast, but previous report was revised upward by the same margin. These offset, but the current report negativity drove the small reaction. The initial spike fell to almost hit the 50 SMA, then after retracing just touched it on the 2nd peak. The reversal recovered the loss 7 minutes later.