CL 08 12 (1 Min) 06.21.12

6/21/2012 Weekly Unemployment Claims (0230 HI time / 0830 EDT)
Forecast: 381K
Actual: 387K
SPIKE/REVERSE
Started @ 80.60
1st Peak @ 80.42 – 0231 (1 min)
18 ticks

Reversal to 80.83 – 0234 (4 min)
41 ticks

Notes: Report came in slightly worse than the forecast . This caused a short spike of 18 ticks that was quick and unsustained. This is typical on a claims report that is within 10 of the forecast. With JOBB, your order would have filled short. Then move the stop loss to Break even and try to close with a handful of ticks before it reverses. The reversal reclaimed 41 ticks to briefly eclipse all three SMAs before falling again.