Review of $DX - US DOLLAR INDEX ICE Continuous (@:DXc1#I)
as of Tuesday, November 30, 2010
Today's Price Action
Change 0.3690 (0.46%) prices closed higher than they opened. with strong Bids going into the close.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: 43.34
Swing Vix: 43.26
The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of 4 period(s) ago. The Swing Vix is above 39. This is where it usually tops. The Swing Vix usually forms tops and bottoms 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 7 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The security price has set a new 14-period high while the Swing Vix has not. This is a bearish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if downside pressure develops.
*Since the last Swing Vix signal, $DX - US DOLLAR INDEX ICE Continuous's price has increased 1.67% , and has ranged from a high of 81.5250 to a low of 79.4650.
MOMENTUM
MARKET TREND - Currently the TREND is -The DownTrend is still entact with prices holding below trendline resistance at- 81.5050.
TREND STRENGTH - , neutral
TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. - 81.5050
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 80.7915
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 79.2462
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 79.7631
INTRADAY PRICE PROJECTIONS
RESISTANCE 81.3484
SUPPORT 80.9166
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 79.5850
PulseWave BreakOut SUPPORT - 78.0600
VOLATILITY
On 11/30/2010, $DX - US DOLLAR INDEX ICE Continuous closed
below the upper band by 3.9%.
This combined with the steep uptrend suggests that the upward trend in prices has a good chance of continuing. However, a short-term pull-back inside the bands is likely.
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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