US ADP Employment Change - Small Deviation lower does not affect the market much

Today Wednesday 1st February 2012 at 8:15 EST (13:15 GMT) the ADP employment figures were released from the USA. There was a small deviation lower of about 12k which is not large enough to take any trade. There was also a revision to the previous month of -33k which even with the 2 added together is still not enough...something more like a 70k deviation from expectations is good although 50k can work it is not reliable. Also it is best when the deviation is for the current month, not a revision. Here are the figures:

US ADP Employment Change
Estimates: Median: 182k Average: 188k Range: 145k to 300k
Actual: 170k Prior: 325k Revised: 292k

The markets had been rallying during the european session and basically this slightly worse data was not enough to stop them. Here is a 1 minute chart of the EMini S&P 500 future which bascially went sidewise but started to pick up as the US cash equity open approached at 9:30 EST (14:30 GMT) and then continued into the release of the US ISM Manufacturing PMI release:

Also included is a 5 minute chart of the CADJPY which shows the move from the european session into the ADP data and then on until it hit resistance at 76.50. Notice the small dip in the uptrend as the data came out: