Apr 032012
 


CL 05 12 (1 Min) 04.03.12

4/3/2012 Monthly Factory Orders (0400 HI time / 1000 EDT)
Forecast: 1.5%
Actual:1.3%
Previous Revision: -0.1% to -1.1%
SPIKE / REVERSAL
Started @ 104.64
Peak @ 104.43 – 0401 (1 min)
21 ticks

Reversal to 104.74 – 0408 (8 min)
31 ticks

Notes: Negative report fell short of the forecast along with a small downward revision to the previous report. This caused a short spike of 21 ticks in 1 minute that crossed both the 200 SMA about halfway down its path. It could not sustain the drop, and methodically reversed upward for 31 ticks in 7 minutes hitting resistance at the junction of the 50 and 100 SMAs