3/26/2013 Monthly CB Consumer Confidence (1000 EDT)
Forecast: 67.9
Actual: 59.7
Previous revision: -1.6 to 68.0
SPIKE WITH 2ND PEAK
Started @ 95.77
1st Peak @ 95.57 – 1004 (4 min)
20 ticks
Reversal to 95.71 – 1008 (8 min)
14 ticks
2nd Peak @ 95.31 – 1023 (23 min)
46 ticks
Reversal to 95.64 – 1032 (32 min)
33 ticks
Notes: Report strongly disappointed falling well short of the forecast and caused a short reaction of 20 ticks culminating on the :03 bar. It probably would have achieved a bigger spike if not for all the support barriers crossed. It struggled with the 50 SMA on the :01 bar, then the R1 Pivot and the 100 SMA on the next 2 bars. With JOBB you would have filled short at 95.69 with 3 ticks of slippage. I moved my stop to break even and 1 tick above the 50 SMA after it was struggling to go lower and got nicked for no gain on the wick of the :02 bar. Then the next bar would have given another 7 tick drop allowing 10 ticks to be captured. Then it reversed for 14 ticks in 4 min, before dropping for a big 2nd peak of 46 total ticks in the next 15 min. After that, the final reversal reclaimed 33 ticks in a brief 9 min to eclipse the 100 SMa and the R1 Pivot.