8/20/2010 - SPY - THE VULCAN REPORT Review of SPY - S&P 500 ETF (SPY) as of Thursday, August 19, 2010

THE VULCAN REPORT
Review of SPY - S&P 500 ETF (SPY)
as of Thursday, August 19, 2010


Today's Price Action


Change   -1.9100 (-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:    -24.61
Swing Vix:    -24.23


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 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  6 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, SPY - S&P 500 ETF's price has been unchanged, and has ranged from a high of 109.4900 to a low of 107.4300.


     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 106.5100 is needed to re-establish the downward trend. However a close above 110.9050 will establish a new upward trend.


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


TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. - 108.8250
Today's Sell off pushed prices on the close below the long term trendline support - This is Bearish as the market is now under heavy Distribution.
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 108.6740
Today's Sell off pushed prices on the close below the long term trendline support - This is Bearish as the market is now under heavy Distribution.
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. - 110.0428 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 109.5971 




INTRADAY PRICE PROJECTIONS
RESISTANCE 109.0265
SUPPORT 107.8935


WEEKLY PRICE PROJECTIONS
RESISTANCE 110.3900
SUPPORT 107.1800




VOLATILITY
On 8/19/2010, SPY - S&P 500 ETF closed   
above the lower band by 7.3%.




     IN PLAY - (PANDORA'S LITTLE BLACK BOX)


LONG Signals :   


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


SHORT Signals :  


   CRASH ALERT  - (Market Top) Possible Selloff is likely do to weak market pulse projections           


        SHORT ENTRY- 107.3270
   Profit Target 102.0867
   Stop Loss 109.5930




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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