The Consumer Confidence report did just as expected, injected volatility into the market. The ES had moved up farther than we had hoped before the news announcement. It shot right through the 1172 short fade area. The impending news plus order flow analysis kept us from fading. The news appeared positive, beating expectations and in the upper end of the analyst predictions. We took the break out trade at 1173.50 (actual fills averaged 1173.25) anticipating a climb to 1175 which never materialized. The trade ended up as a 6 tick loss as it started selling off. The long fade trades at 1168 or 1166 may come into play latter in the day. Also 1173.50 is now a short fade price area.