9/15/2011 - CL - LIGHT CRUDE COMPOSITE Continuous

THE VULCAN REPORT
Review of $0$ CL - LIGHT CRUDE COMPOSITE Continuous (@:CLC1#I)
as of Wednesday, September 14, 2011


Today's Price Action


Change   -1.2500 (-1.39%) prices closed lower than they opened. with weak Bids going into the close. 


An engulfing bearish line occurred (where a black candle's real body completely contains the previous white candle's real body).  The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with $0$ CL - LIGHT CRUDE COMPOSITE Continuous).  It then signifies that the momentum may be shifting from the bulls to the bears.  


If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal.  The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     26.46
Swing Vix:     27.55


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 daysThe 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 26 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 been unchanged, and has ranged from a high of  90.25 to a low of  88.21.


     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    87.66 is needed to re-establish the downward trend. However a close above    89.55 will establish a new upward trend.


        TREND STRENGTH - ,,,


TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. -    93.73


The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    91.13




INTRADAY PRICE PROJECTIONS
RESISTANCE    90.35 -   


SUPPORT    88.11 -  -  


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    93.24-  


PulseWave BreakOut SUPPORT -    81.53-  




VOLATILITY
On 9/14/2011, $0$ CL - LIGHT CRUDE COMPOSITE Continuous closed   
below the upper band by 30.5%.
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.