7/5/2012 Monthly ISM Non-Manufacturing PMI (0400 HI time / 1000 EDT)
Previous Revision: n/a
SPIKE WITH 2ND PEAK
Started @ 87.03
1st Peak @ 86.80 – 0402 (2 min)
2nd Peak @ 86.50 – 0408 (8 min)
Reversal to 87.22 – 0422 (22 min)
Notes: Negative report fell short of the forecast. This caused a slow developing short spike on the first and second bars of 23 ticks, a small reversal, then a lower 2nd peak of 53 ticks, then a reversal of 72 ticks. This report is starting to react late as a normal trend. I canceled the trade after not filling in 15 sec, but then it dove and delivered a nice yield. No SMAs were crossed and the 2nd peak terminated just above the S1 Pivot. The reversal fought through the 50 SMA then settled just above the PP Pivot and 100 SMA on top of each other.