6-11-2010 - THE VULCAN REPORT - $SPX Bearish Retracement

THE VULCAN REPORT
Review of $SPX ($SPX)
as of Thursday, June 10, 2010



    CHART PATTERNS

A white body occurred (because prices closed higher than they opened).

During the past 10 bars, there have been 5 white "UP" candles and 5 black "DOWN" candles.

During the past 50 bars, there have been 26 white "UP"  candles and 24 black "DOWN" candles for a net of 2 white (UP) candles.




PulseScan Swing Vix              Swing Index

PulseScan:    -23.07
Swing Vix:    -22.40

Currently The Market Pulse is negative since it is trading below its signal line.The PulseScan crossed below the Swing Vix   4 period(s) ago.
The last signal was a -SWING VIX Sell  4 period(s) Ago.


PANDORA'S LITTLE BLACK BOX


PulseScan LONG ENTRY :  

       ,,,,,,





Swing Vix SHORT ENTRY : 

,2nd-PulseWave SHORT /,,,,,
       

SWING TRADE ENTRIES

   2nd PulseWave SHORT 1,042.1700
   1st PulseWave SHORT 1,063.4524
       IntraDay BreakDown SHORT 1,057.3160
       
         INTRADAY PRICE PROJECTIONS

        IntraDay RESISTANCE 1,081.3070
        IntraDay SUPPORT 1,065.3131

   PROFIT TARGETS

   1st Profit Target 990.5801
   2nd Profit Target 961.5001
   
   STOP LOSS
   Stop Loss/Stop & Reverse 1,075.9757

Watch for possible breakout  longss - 2nd PulseWave - from 1,105.6700


 The Trend Channel is DOWN!  (i.e. "Negative Swing Vix") This means that negative momentum is entering the market. Expect sideways to lower prices within the next 3-5 days
,
The Swing Vix is not currently in a topping (above 39) or bottoming (below -39) range.    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 38 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, $SPX's price has increased 2.06% , and has ranged from a high of 1,098.4301 to a low of 1,042.1700.

     MARKET TREND

Currently the TREND is VERY-BEARISH- Down.
The current market condition for $SPX is:

       \Very Bearish

The close is currently Below it's 264 Long Term period moving average.1,081.5000
The close is currently Below  it's 40 Intermediate Term period moving average.1,126.0065
The close is currently Below  it's 10 Short Term period moving average.1,096.7668
    
    Volatility

On 6/10/2010, $SPX closed above the lower band by 46.2%. 



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.