7/28/2010 - GLD - THE VULCAN REPORT Review of COMEX Gold FUTURES ETF (GLD) as of Tuesday, July 27, 2010

THE VULCAN REPORT
Review of COMEX Gold FUTURES ETF (GLD)
as of Tuesday, July 27, 2010


Today's Price Action


Change   -2.0100 (-1.74%) prices closed lower than they opened. with weak Bids going 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:    -32.51
Swing Vix:    -31.38


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 daysThe Swing Vix is below -29.  This is where it usually forms Support.  The Swing Vix usually forms Support 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-Bought Sell 50 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 been unchanged, and has ranged from a high of 114.9900 to a low of 113.2100.


     MOMENTUM


     MARKET TREND - Currently the TREND is .There is currently no trend reading at this time.


        TREND STRENGTH - ,
There is currently no trend strenght reading at this time.


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. - 117.2720 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 116.0998 




INTRADAY PRICE PROJECTIONS
RESISTANCE 114.5895
SUPPORT 113.6105


WEEKLY PRICE PROJECTIONS
RESISTANCE 117.5000
SUPPORT 115.1100


VOLATILITY
On 7/27/2010, COMEX Gold FUTURES ETF closed below the lower band by 3.2%.  


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 :   


LONG POSITIONS FOR THIS SECURITY ARE NOT IN PLAY AT THIS TIME!


SHORT Signals :  


Possible 2nd PulseWave Break-Down Continuation         Bearish Momentum Strengthening (Phase I)     


        SHORT ENTRY- 113.1210
   Profit Target 108.5633
   Stop Loss 115.0790



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.


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