Review of YM - DOW JONES MINI($5) Continuous (@:YMc1#I)
as of Friday, August 27, 2010
Today's Price Action
Change 174.0000 (1.75%) prices closed higher than they opened. with strong Bids going into the close.This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area , the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
An engulfing bullish line occurred (where a white candle's real body completely contains the previous black candle's real body). The engulfing bullish pattern is bullish during a downtrend (which appears to be the case with YM - DOW JONES MINI($5) Continuous). It then signifies that the momentum may be shifting from the bears to the bulls.
If the engulfing bullish pattern occurs during an uptrend, it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -36.74
Swing Vix: -37.68
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 However, the Swing Vix just crossed above -39 from a bottoming formation. This is a bullish sign.
A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area.
*The last signal was a Over-Sold Buy 0 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, YM - DOW JONES MINI($5) Continuous's price has been unchanged, and has ranged from a high of 10,146.0000 to a low of 9,920.0000.
MOMENTUM
MARKET TREND - Currently the TREND is .There is currently no trend reading at this time.
TREND STRENGTH - WEAK - RANGE BOUND (Prices have ceased trending and have become consolidated at this time) The market has put in a short term bottom. This means that the bears are liquidating short positions thus taking some profit off the table.,
TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. - 10,346.9043
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 10,128.8262
The close is currently Below it's Intermediate Term TRENDLINE RETRACEMENT. - 10,318.5313
The close is currently Below it's Short Term TRENDLINE RETRACEMENT. - 10,164.4678
INTRADAY PRICE PROJECTIONS
RESISTANCE 10,095.1504
SUPPORT 9,970.8496
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE 10,456.0000
PulseWave BreakOut SUPPORT 9,914.0000
Long term Trend Line resistance is currently at - 10,346.9043
Long term Trend Line support is currently at - 9,435.7998
BEAR MARKET DOWNTREND - (12-18mo) PRICE TARGET = 7,613.5898
DEFLATED BUBBLE PHASE I - (24-36mo) PRICE DESTRUCTION TARGET = 5,791.3799
DEFLATED BUBBLE PHASE 2 - (42-60mo) (PANIC SELLING EXTREME FEAR) PRICE DESTRUCTION TARGET = 3,969.1699
DEFLATED BUBBLE PHASE 3 - (72mo+) (THE STOCK WILL PROBABLY BE DELISTED AND/OR FILE FOR BK 11) PRICE DESTRUCTION TARGET = 2,146.9600
VOLATILITY
On 8/27/2010, YM - DOW JONES MINI($5) Continuous closed
above the lower band by 26.8%.
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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BULLS make money... BEARS make money.... PIGS get slaughtered!
"TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!
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"!!
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