Review of COMEX Gold FUTURES ETF (GLD)
as of Monday, August 02, 2010
Today's Price Action
Change prices closed lower than they opened. with weak Bids going into the close. 0.0500 (0.04%)
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -26.49
Swing Vix: -28.67
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 1 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 54 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 increased 0.04% , and has ranged from a high of 116.3900 to a low of 114.0800.
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. - 116.9637
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 115.4560
Today's Rally pushed prices on the close above the short term trendline support
INTRADAY PRICE PROJECTIONS
RESISTANCE 116.1222
SUPPORT 115.4678
WEEKLY PRICE PROJECTIONS
RESISTANCE 117.5000
SUPPORT 113.0800
VOLATILITY
On 8/2/2010, COMEX Gold FUTURES ETF closed
above the lower band by 35.0%.
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 :
SHORT POSITIONS FOR THIS SECURITY ARE 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.
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