5/29/2012 Monthly CB Consumer Confidence (0400 HI time / 1000 EDT)
Previous revision: -0.5 to 68.7
Started @ 91.58
1st Peak @ 91.35 – 0401 (1 min)
Reversal to 91.63 – 0407 (7 min)
Notes: Report fell short of the forecast with a small downward revision to the previous report. This caused a short reaction that had to fight through the 50 SMA before bouncing off of the PP Pivot making it unable to reach the 100 SMA. With JOBB you would have filled short at about 91.50, then had an opportunity to close out with a 5-10 ticks of profit as it hovered between the 50 SMA and the PP Pivot. The reversal was able to climb back above the 50 SMA to almost eclipse the R1 Pivot.