7/2/2010 Friday - THE VULCAN REPORT

THE VULCAN REPORT
Review of GOLD Spot (XAU USD)
as of Thursday, July 01, 2010



    CHART PATTERNS

A big black candle occurred.  This is bearish, as prices closed significantly lower than they opened.  If the candle appears when prices are "high," it may be the first sign of a top.  If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.  Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.

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

During the past 50 bars, there have been 27 white "UP"  candles and 21 black "DOWN" candles for a net of 6 white (UP) candles.


PulseScan Swing Vix              Swing Index

PulseScan:     -6.37
Swing Vix:     -1.31

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    6 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 37 period(s) Ago.

The Swing Vix has just reached its lowest value in the last 14 period(s).  This is bearish.

        Since the last Swing Vix signal, GOLD Spot's price has decreased 3.09%, and has ranged from a high of 1,262.4800 to a low of 1,196.6100.

     MARKET TREND

Currently the TREND is - Up.
The close is currently Above it's Long Term period moving average.1,084.8550
The close is currently Above  it's Intermediate Term period moving average.1,205.7471
The close is currently Below  it's Short Term period moving average.1,232.6823

Today's Sell off pushed prices on the close below the short term trendline resistance

     TREND STRENGTH

    Bullish Strength - Price Projection Target  1,625.3501

    VOLATILITY

On 7/1/2010, GOLD Spot closed below the lower band by 18.2%. 

Lower Volatility Band Breakout   - 1,194.2570


PANDORA'S LITTLE BLACK BOX

PulseScan LONG ENTRY :  

Possible 1st PulseWave Consolidation Break-Out - 1,248.2153
    Profit Target 1,354.1935
   Stop Loss/Stop & Reverse 1,215.8262


INTRADAY PRICE PROJECTIONS
        RESISTANCE 1,233.0815
        SUPPORT 1,207.1985


Our Price Action Money Flow indicators are pointing Down  possible selloff beyond intraday support - 1,194.2570


Swing Vix SHORT ENTRY : 



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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