CL 07 12 (1 Min) 06.01.12

6/1/2012 Monthly ISM Manufacturing PMI (0400 HI time / 1000 EDT)
Forecast: 54.0
Actual: 53.5
Previous revision: n/a
INDECISIVE
Started @ 83.76
1st Peak @ 83.64 / Reverse to 84.08 – 0401 (1 min)
-12 ticks / 32 ticks

Notes: Report fell slightly short of the forecast causing indecision with a premature short spike then a strong long spike. Since this report followed negative news from Europe then a very disappointing US Employment report, and occurred on a Friday, the markets were jittery and thinly traded. When a nearly matching report resulted, it was a recipe for indecision. The 50 and 200 SMAs heavily influenced the market movement 20 min on either side of the report.