8/14/2011 - SLV - SILVER ETF

THE VULCAN REPORT
Review of $1$ SLV - SILVER ETF (SLV)
as of Friday, August 12, 2011


Today's Price Action


Change    0.3200 (0.85%) 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:    -18.53
Swing Vix:    -20.11


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 12 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, $1$ SLV - SILVER ETF's price has increased 0.85% , and has ranged from a high of  38.20 to a low of  36.94.


     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    34.42 is needed to re-establish the downward trend. However a close above    40.16 will establish a new upward trend.


        TREND STRENGTH - ,,,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -    32.75
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -    31.15




INTRADAY PRICE PROJECTIONS
RESISTANCE    38.25 -     38.77 -     38.77 
SUPPORT    37.25 -     36.97 -    36.97


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    42.72  
PulseWave BreakOut SUPPORT -    34.56  


VOLATILITY
On 8/12/2011, $1$ SLV - SILVER ETF closed   
above the lower band by 37.3%.