THE VULCAN REPORT Review of XAU/USD - COMEX GOLD SPOT (XAU USD) as of Monday, May 10, 2010

05-11-10 10:22 AM



The Vulcan Report (38) - 11 May 2010 - GOLD and SILVER SPOT




THE VULCAN REPORT
Review of XAU/USD - COMEX GOLD SPOT (XAU USD)
as of Monday, May 10, 2010



CHART PATTERNS

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.

During the past 10 bars, there have been 4 white "UP" candles and 5 black "DOWN" candles for a net of 1 black (DOWN) candles.

During the past 50 bars, there have been 21 white "UP" candles and 28 black "DOWN" candles for a net of 7 black (DOWN) candles.





PulseScan Swing Vix Swing Index

PulseScan: 34.09
Swing Vix: 33.61

Currently The Market Pulse is positive since it is trading above its signal line.The PulseScan crossed above the Swing Vix 1 period(s) ago.


PulseScan LONG ENTRY :

,,



,,2nd-VCB GO LONG @
BREAK OUT 1,213.28
Profit Target 1,237.21
Stop Loss/Stop & Reverse 1,178.66



Swing Vix SHORT ENTRY :

,,

Possible Bearish Consolidation Break-Down @
BREAK OUT 1,178.25
Profit Target 1,152.05
Stop Loss/Stop & Reverse 1,210.59



,,2nd-VCB GO SHORT @
BREAK DOWN 1,156.11
Profit Target 1,152.05
Stop Loss/Stop & Reverse 1,210.59



The Trend Channel is UP! (i.e. "Positive Swing Vix") This means that positive momentum is entering the market. Expect sideways to higher prices within the next 3-5 days
,
The Swing Vix is above 29. This is where it usually forms Resistance. The Swing Vix usually forms Resistance before the underlying security. A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area. The last signal was a Over-Bought Sell 5 period(s) Ago.


The Swing Vix does not currently show any Failure Swings.
The Swing Vix and price are not diverging.
Since the Swing Vix crossed its moving average, XAU/USD - COMEX GOLD SPOT's price has decreased 0.63%, and has ranged from a high of 1,208.330 to a low of 1,183.980.

MARKET TREND

Currently the TREND is VERY-BULLISH- Up.
The current market condition for XAU/USD - COMEX GOLD SPOT is:

Very Bullish\

The close is currently Above it's 264 Long Term period moving average.1,065.50
The close is currently Above it's 40 Intermediate Term period moving average.1,143.57
The close is currently Above it's 10 Short Term period moving average.1,169.69

Volatility

On 5/10/2010, XAU/USD - COMEX GOLD SPOT closed below the upper band by 20.9%. 27.33% wider than normal. Remaining neutral.


This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.


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