Panic stations. Thu Mar 11

For the second day in a row the index collapsed after an announcement at 11.30 am. Today's jobs figures were mixed, slightly softer on the headline number but with underlying strength. It's a really strange reaction and with Chinese data out later there could be more jumping at shadows.
It's 12.07 pm and the market is retracing some of those recent losses. I'm beginning to expect an upside panic now.
Fortescue has been as high as 499 and I used a 60 minute buy signal to get long at 488 with the daily trigger following fairly soon after. So I did pre-empt the signal in a way, although I was using a solid enough intraday breakout ie it wasn't just a punt.
Click to enlarge

Here's the 30 minute chart, I was watching for a breakout of the 486 level for the last couple of days.