6/26/2012 Monthly CB Consumer Confidence (0400 HI time / 1000 EDT)
Previous revision: -0.5 to 64.4
Started @ 79.37
1st Peak @ 79.18 – 0402 (2 min)
Reversal to 79.68 – 0408 (8 min)
Notes: Report fell moderately 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 near the origin then bounced off of the convergence of the 100 and 200 SMAs. The 200 SMA on the 15 min chart was also at the 79.30 area providing strong support. With JOBB you would have filled short at about 79.28, then had an opportunity to close out with 5-8 ticks of profit as it hovered at the 100 and 200 SMA area. The reversal was able to fight through the 50 SMA to eclipse the short term high from 30 min earlier by 4 ticks.