7/26/2010 - GLD - THE VULCAN REPORT Review of COMEX Gold FUTURES ETF (GLD) as of Friday, July 23, 2010

THE VULCAN REPORT
Review of COMEX Gold FUTURES ETF (GLD)
as of Friday, July 23, 2010

Today's Price Action

Change   -0.7700 (-0.66%)prices closed lower than they opened.


Weak Bids into the close.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 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.


MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:    -29.84
Swing Vix:    -30.79

The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    0 period(s) ago.This means that positive momentum has entered the market. Expect sideways to higher prices within the next 3-5 days  
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 48 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 117.4700 to a low of 115.7900.

              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 119.5075 is needed to re-establish the upward trend. However A close below 116.4950 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. - 117.4632
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 116.9321

         INTRADAY PRICE PROJECTIONS
        RESISTANCE 117.0920
SUPPORT 116.1680
       WEEKLY PRICE PROJECTIONS
   RESISTANCE 117.5000
   SUPPORT 115.1100
 
           VOLATILITY
On 7/23/2010, COMEX Gold FUTURES ETF closed  
above the lower band by 24.6%.
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)

LONG Signals :  
       
     
THIS SECURITY IS NOT IN PLAY AT THIS TIME!

SHORT Signals : 
         
       
 THIS SECURITY IS NOT IN PLAY AT THIS TIME!



Risk Disclosure

General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser. 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.

For Related news and other stories please visit - http://www.wideawakenews.com/
For Related videos on our Youtube channel please visit - http://www.youtube.com/user/pulsescan72

Be Sure to register for faster updates and commentaries at -
BLOG 1: - http://pulsescan.blogspot.com/
BLOG 2: - http://seekingalpha.com/instablog/466159-pulsescan72/

BULLS make money... BEARS make money.... PIGS get slaughtered!

"TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!