3/21/2013 Monthly Philly FED Manufacturing Index (1000 EDT)
Forecast: -1.6
Actual: 2.0
Previous revision: n/a
DULL REACTION (NO FILL)
Started @ 92.88
Range of next bar – 92.85 – 92.91 – 1001 (1 min)
+/- 3 ticks
Notes: Report marginally exceeded the forecast with a delta of about 3.5, but this was offset by a marginally disappointing Existing Home Sales report at the same time resulting in a very dull reaction that traveled no more than 3 ticks away from the origin in either direction. The market had been selling off over the last hour, but was attempting to correct getting stuck between the 50 SMA and the S1 Pivot. With JOBB, your order would not have filled at any time, but follow the rules and cancel after about 15 sec of dull activity. It continued to chop sideways in a tight range between 92.80 and 92.93 until about 16 min after the report when it finally broke out short.