3/21/2013 Weekly Unemployment Claims (0830 EST)
DULL REACTION (FILL)
Started @ 93.24
1st Peak @ 93.16 – 0831 (1 min)
Reversal to 93.30 – 0831 (1 min)
Extended Reversal to 93.43 – 0841 (11 min)
Notes: Report came in mildly better than the forecast by 7K jobs, causing an 8 tick short spike that quickly reversed 14 ticks by the end of the :31 bar. The initial drop crossed the 50/100 SMAs and PP Pivot right on top of each other at 93.20. With JOBB, you would have filled short on the :31 bar at 93.18 with 1 tick of slippage just below the overlapping support, then seen it pop back long and hover around 5 ticks in the red until about 5 sec left of the bar. Look to close out there. After that it would have taken out your stop loss of 8 ticks. With the news being positive, the initial short move was likely a robotic HFT in the wrong direction. The bullish sentiment prevailed in the following 10 min, causing an extended reversal of 27 ticks, eclipsing the OOD on the :41 bar. Then it chopped sideways until the pit open initiated a selloff.