7/19/2010 - GLD - THE VULCAN REPORT Review of COMEX Gold FUTURES ETF (GLD) as of Friday, July 16, 2010

 THE VULCAN REPORT
Review of COMEX Gold FUTURES ETF (GLD)
as of Friday, July 16, 2010

Today's Price Action

Change   -1.5600 (-1.32%)
Strong Bids into the close.


MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:    -27.17
Swing Vix:    -26.20

The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of    0 period(s) ago. This means that negative momentum has entered 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 43 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The Swing Vix and price are not diverging.
        Since the last Swing Vix signal, COMEX Gold FUTURES ETF's price has been unchanged, and has ranged from a high of 116.7900 to a low of 115.9500.
     
       MOMENTUM
     MARKET TREND - Currently the TREND is - Neutral within the Bullish KUMO Consolidation cloud (Possible Trend Reversal) with Downside Bearish Breakout risk. A close above 118.8150 is needed to re-establish the upward trend. However A close below 114.6350 will establish a new downward trend.
        TREND STRENGTH -
TRENDLINE RETRACEMENT
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 106.1900
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. - 117.6848
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 118.0819


         INTRADAY PRICE PROJECTIONS
        RESISTANCE 116.6010
        SUPPORT 116.1390

       WEEKLY PRICE PROJECTIONS
       RESISTANCE 119.1300
       SUPPORT 116.1000

MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 158.3000
Long term Trend Line resistance is currently at - 123.5600
Long term Trend Line support is currently at - 106.1900

   
       VOLATILITY
On 7/16/2010, COMEX Gold FUTURES ETF closed 
above the lower band by 16.8%.
This combined with the steep downtrend suggests that the downward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.



     IN PLAY

BULL MARKET LONG/SHORT Signals : 
      
THIS SECURITY IS NOT IN PLAY AT THIS TIME!

BEAR MARKET LONG/SHORT Signals :

THIS SECURITY IS NOT IN PLAY AT THIS TIME!



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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