9/22/2011 - /M6E - E-MICRO EUR-USD Continuous

THE VULCAN REPORT
Review of $0$ /M6E - E-MICRO EUR-USD Continuous (@:ECMc1#I)
as of Wednesday, September 21, 2011


Today's Price Action


Change   -0.0108 (-0.79%) 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.  It then signifies that the momentum may be shifting from the bulls to the bears.  


If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with $0$ /M6E - E-MICRO EUR-USD Continuous), 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:    -29.04
Swing Vix:    -28.53


The Market Pulse is negative since it is trading below 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 below -29.  This is where it usually forms Support.  The Swing Vix usually forms Support before the underlying security.  


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  6 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The security price has set a new 14-period low while the Swing Vix has not.  This is a bullish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if an upside breakout occurs.
      
  *Since the last Swing Vix signal, $0$ /M6E - E-MICRO EUR-USD Continuous's price has been unchanged, and has ranged from a high of 1.3791 to a low of 1.3555.


     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. -   1.3784


The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -   1.3959




INTRADAY PRICE PROJECTIONS
RESISTANCE   1.3803 -   


SUPPORT   1.3543 - GO SHORT here   1.3403 - place stoploss here   1.3875 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -   1.4657-  


PulseWave BreakOut SUPPORT -   1.4163-  




MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at -   1.3784
Long term Trend Line support is currently at -   1.2642
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =   1.0359


VOLATILITY
On 9/21/2011, $0$ /M6E - E-MICRO EUR-USD Continuous closed   
above the lower band by 15.3%.
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.