8/14/2011 - GLD - COMEX Gold FUTURES ETF

THE VULCAN REPORT
Review of $1$ GLD - COMEX Gold FUTURES ETF (GLD)
as of Friday, August 12, 2011


Today's Price Action


Change   -0.7800 (-0.46%) prices closed higher than they opened.  with strong Bids going into the close.


A long lower shadow occurred.  This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     33.16
Swing Vix:     33.63


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    0 period(s) ago. This means that negative momentum has entered the market. Expect sideways to lower prices within the next 3-5 days  
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  9 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, $1$ GLD - COMEX Gold FUTURES ETF's price has been unchanged, and has ranged from a high of 170.06 to a low of 167.77.


     MOMENTUM


     MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.


        TREND STRENGTH - STRONG - Bullish Trend,,BULLISH MOMENTUM,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -   144.24
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -   139.15


INTRADAY PRICE PROJECTIONS
RESISTANCE   170.17 - place stoploss here   171.56 -    171.56 
SUPPORT   167.66 - GO SHORT here   166.98 -   166.98


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -   152.44  
PulseWave BreakOut SUPPORT -   143.56  


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET =   236.92
Long term Trend Line resistance is currently at -   175.13
Long term Trend Line support is currently at -   144.24


VOLATILITY
On 8/12/2011, $1$ GLD - COMEX Gold FUTURES ETF closed   
below the upper band by 11.4%.
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.