-092012.jpg "Click to enlarge")
9/20/2012 Weekly Natural Gas Inventory Report (0430 HI time / 1030 EDT)
Forecast: 66B
Actual: 67B
SPIKE/REVERSE
Started @ 2.806
1st Peak @ 2.767 – 0431 (1 min)
39 ticks
Reversal to 2.821 – 0434 (4 min)
54 ticks
Notes: Nearly matching report caused a medium and unsustainable short spike that crossed the 100 SMA at the origin, and the 200 SMA / PP Pivot about halfway down its path. There is no obvious level of support at the peak of the spike, but it hovered within 15 ticks of the bottom for over 15 sec before leaving 30 ticks on the bar tail naked and heading into the reversal. With JOBB, you would have filled short on the spike with about 10 ticks of slippage at about 2.786. Then you would have an opportunity to close out with about 10 ticks where it hovered. The reversal quickly recovered above the 200 SMA, tried once more to penetrate, then rallied for a total of 54 ticks to the HOD on the :34 bar. Then it fell again and seesawed around the 200 SMA for the next hour.