CL 07 12 (1 Min) 05.15.12

5/15/2012 Monthly Retail Sales (0230 HI time / 0830 EDT)
Core Forecast: 0.3%
Core Actual:0.1%
Previous revision: n/a
Regular Forecast: 0.2%
Regular Actual:0.1%
Previous Revision:-0.1% to 0.7%
SPIKE WITH 2ND PEAK
Started @ 95.32
1st Peak @ 95.48 – 0231 (1 min)
16 ticks

2nd Peak @ 95.80 – 0239 (9 min)
48 ticks

Reversal to 94.63 – 0315 (45 min)
117 ticks

Notes: Report was negative, falling short of the forecast across the board, but CPI and Empire State Manufacturing Index broke at the same time. CPI was flat, but the Empire reading was very strong, causing the small upward spike and 2nd peak that crossed the R1 Pivot for 16 and 48 ticks respectively. Then the negative results of the Retail Sales report took over on the strong reversal of 117 ticks. It fought through the R1 and PP Pivots along with all 3 major SMAs to find a bottom at 94.63, 24 ticks lower than the PP Pivot.