CL 07 12 (1 Min) 05.17.12

5/17/2012 Weekly Unemployment Claims (0230 HI time / 0830 EDT)
Forecast: 368K
Actual: 370K
SPIKE / RETRACE
Started @ 93.58
1st Peak @ 93.40 – 0231 (1 min)
18 ticks

Reversal to 93.80 – 0239 (9 min)
40 ticks

Notes: Report came in basically matching the forecast. The market decided to short the news for 18 ticks finding support on the PP Pivot, then reverse for double the rebound of 40 ticks.