7/25/2011 - SILVER FUTURES

THE VULCAN REPORT
Review of SILVER FUTURES (US@SI.1)
as of Monday, July 25, 2011


Today's Price Action


Change   with weak Bids going into the close. 38.0000 (0.95%) prices closed higher than they opened. 


A spinning top occurred (a spinning top is a candle with a small real body).  Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close).  During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     35.23
Swing Vix:     35.76


The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of    3 period(s) ago.   
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  2 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, SILVER FUTURES's price has increased 2.41% , and has ranged from a high of 4,110.50 to a low of 3,821.50.


     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 3,585.13 is needed to re-establish the downward trend. However a close above 4,106.00 will establish a new upward trend.


        TREND STRENGTH - ,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 3,357.25
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 3,103.00
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. - 3,704.01 
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. - 3,893.42 


INTRADAY PRICE PROJECTIONS
RESISTANCE 4,115.52
SUPPORT 4,004.98


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 4,088.00
PulseWave BreakOut SUPPORT - 3,821.50


VOLATILITY
On 7/25/2011, SILVER FUTURES closed   
below the upper band by 14.2%.