2/8/2013 World Agriculture Supply and Demand Estimates (WASDE) – Corn (1200 EST)
Forecast: n/a
Actual: n/a
SPIKE WITH 2ND PEAK
Started @ 718.25
1st Peak @ 711.00 – 1204 (4 min)
29 ticks
Reversal to 719.00 – 1208 (8 min)
32 ticks
2nd Peak @ 709.00 – 1240 (40 min)
37 ticks
Reversal to 717.00 – 1326 (86 min)
32 ticks
Notes: Report Reaction caused a short spike of 29 ticks over 4 bars, that crossed all 3 major SMAs and the R1 / PP Pivots. With JOBB, you would have filled at about 716 with no slippage, then had an opportunity to exit in the area of the PP Pivot and 200 SMA for about 10 ticks. After the spike, it reversed to come back to the origin, then dove for a 2nd peak of 8 more ticks about 35 min later, 1 tick above the LOD. Then it reversed back to the R1 Pivot 45 min after that.