-121212.jpg "Click to enlarge")
12/12/2012 10-yr Bond Auction (0631 HI time / 1131 EST)
Previous: 1.68/2.6
Actual: 1.65/3.0
SPIKE/REVERSE
Started @ 148’21 (0631)
1st Peak @ 149’00 – 0633 (2 min)
11 ticks
Reversal to 148’27 – 0645 (14 min)
5 ticks
Notes: Report is scheduled on Forex Factory at the top of the hour, but the spike always breaks 1 min late. The highest yield dropped moderately from the previous auction. This caused the ZB to spike long for 11 ticks. With JOBB you would fill long at 148’24 with no slippage. Since it crossed all 3 major SMAs and the S1 Pivot, it was reined in to only 11 ticks and could not reach the PP Pivot at 149’01. Look to exit at 148’30 +/- 1 tick for about 6 ticks. It stayed up at that area for about 8 min, then made a small correction to 148’27 before popping up for a double top again.