7/19/2010 - OIH - THE VULCAN REPORT Review of ETF - Light Sweet Crude Oil FUTURES (OIH) as of Friday, July 16, 2010

THE VULCAN REPORT
Review of ETF - Light Sweet Crude Oil  FUTURES (OIH)
as of Friday, July 16, 2010

Today's Price Action

Change   -3.0500 (-2.94%)

Weak Bids into the close.

MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:     32.18
Swing Vix:     31.60

The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    7 period(s) ago. 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-Sold Buy 35 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, ETF - Light Sweet Crude Oil  FUTURES's price has decreased 0.89%, and has ranged from a high of 104.7500 to a low of 97.9500.
       

       MOMENTUM
 
     MARKET TREND - Currently the TREND is - Neutral within the Bearish KUMO Consolidation cloud(Possible Trend Reversal) with Upside Bullish Breakout risk. A close below 100.6775 is needed to re-establish the downward trend. However a close above 112.6450 will establish a new upward trend.
        
TREND STRENGTH - 

TRENDLINE RETRACEMENT
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 111.3850
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. - 105.2498
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. - 101.5540


         INTRADAY PRICE PROJECTIONS
        RESISTANCE 102.6657
        SUPPORT 101.1643

       WEEKLY PRICE PROJECTIONS
       RESISTANCE 104.7500
       SUPPORT  93.3600

MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at - 111.3850
Long term Trend Line support is currently at -  86.9600
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =  38.1100
    
       VOLATILITY
On 7/16/2010, ETF - Light Sweet Crude Oil  FUTURES closed  
below the upper band by 46.8%.

This combined with the steep uptrend suggests that the upward 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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