8/15/2011 - CL - LIGHT CRUDE COMPOSITE Continuous

THE VULCAN REPORT
Review of $0$ CL - LIGHT CRUDE COMPOSITE Continuous (@:CLC1#I)
as of Friday, August 12, 2011


Today's Price Action


Change   -0.0300 (-0.04%) prices closed lower than they opened. with weak Bids going into the close. 


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:    -22.38
Swing Vix:    -24.30


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    3 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-Sold Buy  3 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, $0$ CL - LIGHT CRUDE COMPOSITE Continuous's price has increased 3.99% , and has ranged from a high of  87.37 to a low of  75.71.


     MOMENTUM


     MARKET TREND - Currently the TREND is VERY-BEARISH - Heavy Distribution.


        TREND STRENGTH - WEAK - RANGE BOUND  (Prices have ceased trending and have become consolidated at this time) The market has put in a short term bottom. This means that the bears are liquidating short positions thus taking some profit off the table.,,,BEARISH MOMENTUM


TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. -    92.79
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    92.21


INTRADAY PRICE PROJECTIONS
RESISTANCE    87.54 -  GO LONG here    88.95 place stoploss here    82.27


SUPPORT    83.86 -  -  


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -   102.06-  
PulseWave BreakOut SUPPORT -    91.95-  


MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at -    92.79
Long term Trend Line support is currently at -    70.76
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =    26.69


VOLATILITY
On 8/12/2011, $0$ CL - LIGHT CRUDE COMPOSITE Continuous closed   
above the lower band by 22.6%.
This combined with the steep downtrend suggests that the downward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.