THE VULCAN REPORT Review of SILVER FUTURES (US@SI.1) as of Friday, June 17, 2011

THE VULCAN REPORT
Review of SILVER FUTURES (US@SI.1)
as of Friday, June 17, 2011

Today's Price Action

Change   prices closed lower than they opened.  2.0000 (0.06%)  with strong Bids going into the close.

Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

     MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:    -30.84
Swing Vix:    -27.94

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   10 period(s) ago. The 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 38 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s).  This is bearish.The Swing Vix has set a new 14-period low while the security price 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, SILVER FUTURES's price has decreased 2.17%, and has ranged from a high of 3,786.0000 to a low of 3,440.0000.

     MOMENTUM

     MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at- 3,350.7500Slightly Bearish - .

        TREND STRENGTH - ,

TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 3,350.7500
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 2,983.5820
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. - 3,690.6877
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 3,588.2227

INTRADAY PRICE PROJECTIONS
RESISTANCE 3,553.7251
SUPPORT 3,510.2749

WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 3,786.0000
PulseWave BreakOut SUPPORT - 3,440.0000


VOLATILITY
On 6/17/2011, SILVER FUTURES closed  
above the lower band by 26.6%.