7/20/2010 - GLD - THE VULCAN REPORT Review of COMEX Gold FUTURES ETF (GLD) as of Monday, July 19, 2010

 THE VULCAN REPORT
Review of COMEX Gold FUTURES ETF (GLD)
as of Monday, July 19, 2010

Today's Price Action

Change   -0.9400 (-0.81%)
Strong Bids into the close.


MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:    -28.55
Swing Vix:    -27.77

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    1 period(s) ago. 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 44 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The security price has set a new 14-period low while the Swing Vix has not.  This is a bullish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if an upside breakout occurs.
        *Since the last Swing Vix signal, COMEX Gold FUTURES ETF's price has decreased 0.81%, and has ranged from a high of 116.7900 to a low of 115.1100.
     
       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 119.1150 is needed to re-establish the upward trend. However A close below 115.1600 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. - 117.6207
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 117.6543


         INTRADAY PRICE PROJECTIONS
         RESISTANCE 115.6448
         SUPPORT 115.2653

       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 7/19/2010, COMEX Gold FUTURES ETF closed 
above the lower band by 9.5%.
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 - (PANDORA'S LITTLE BLACK BOX)

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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