PulseWave Trading: The Vulcan Report (45)

Thursday, June 3, 2010

The Vulcan Report (45) - Wednesday June 02, 2010

THE VULCAN REPORT
Review of $SPX ($SPX)
as of Wednesday, June 02, 2010

CHART PATTERNS

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

During the past 10 bars, there have been 4 white "UP" candles and 6 black "DOWN" candles for a net of 2 black (DOWN) candles.

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

PulseScan Swing Vix Swing Index

PulseScan: -16.19
Swing Vix: -18.03

Currently The Market Pulse is negative since it is trading below its signal line.The PulseScan crossed above the Swing Vix 3 period(s) ago.
The last signal was a +SWING VIX Buy 3 period(s) Ago.

PANDORA'S LITTLE BLACK BOX

PulseScan LONG ENTRY :

,,,,,,

Swing Vix SHORT ENTRY :

,2nd-PulseWave SHORT /,,,,,

SWING TRADE ENTRIES
2nd PulseWave SHORT 104,078
1st PulseWave SHORT 107,949

DAY TRADE ENTRIES
2nd IntraDay BreakDown SHORT 107,070
1st IntraDay BreakDown SHORT 107,800

PROFIT TARGETS
1st IntraDay Profit Target 107,203
2nd IntraDay Profit Target 105,877

STOP LOSS
Stop Loss/Stop & Reverse 108,773

Watch for possible breakout longss - 2nd PulseWave - from 110,352

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 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 32 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 decreased 0.33%, and has ranged from a high of 110,352 to a low of 106,989.

MARKET TREND

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

\Very Bearish

The close is currently Below it's 264 Long Term period moving average. 106,255
The close is currently Below it's 40 Intermediate Term period moving average. 113,758
The close is currently Below it's 10 Short Term period moving average. 111,552

Volatility

On 6/2/2010, $SPX closed above the lower band by 28.9%.

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.