-051012.jpg "Click to enlarge")
05/10/2012 30-yr Bond Auction (0701 HI time / 1301 EDT)
Previous: 3.23/2.8
Actual: 3.09/2.7
UPWARD FAN
Started @ 144’00 (0701)
1st Peak @ 144’17 – 0704 (3 min)
17 ticks
Reversal to 144’09 – 0709 (8 min)
8 ticks
2nd Peak @ 144’22 – 0811 (70 min)
22 ticks
Final Peak @ 144’31 – 1047 (226 min)
31 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 of 3.09 is lower than last month causing the bonds to spike long for 17 ticks, crossing all 3 major SMAs then the S1 Pivot on its upward path. With JOBB you would fill long at 144’03, on top of the 100 SMA, then have seen it shoot upward. As it had no problem crossing the SMAs, watch the interaction with the S1 Pivot. The :03 bar hovered between the S1 and 2 ticks above, so I would close out there at 144’12 for 9 ticks. It did go higher on the :04 bar, but that is not assured, and it left the entire wick naked. After the 1st peak was achieved, it retreated to the S1 Pivot, then slowly ascended to the 2nd Peak. After that it traded sideways in a 5 tick range before climbing another 9 ticks at the end of the trading day.