9/23/2011 - NDX - NQ E-mini NASDAQ 100 FUTURES

THE VULCAN REPORT
Review of $0$ NDX - NQ E-mini NASDAQ 100 FUTURES ($NDX)
as of Thursday, September 22, 2011


Today's Price Action


Change  -61.2500 (-2.73%) prices closed lower than they opened. with weak Bids going into the close.This is bearish, as prices closed significantly lower than they opened.  If the candle appears when prices are "high," it may be the first sign of a top.  If it occurs when prices are confronting an overhead resistance area the long black candle adds credibility to the resistance.  Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area. 


Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     23.59
Swing Vix:     28.31


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    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  1 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, $0$ NDX - NQ E-mini NASDAQ 100 FUTURES's price has decreased 2.73%, and has ranged from a high of 2,318.00 to a low of 2,144.50.


     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 2,148.50 is needed to re-establish the downward trend. However a close above 2,203.88 will establish a new upward trend.


        TREND STRENGTH - ,,,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 2,157.60


The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 2,200.53




INTRADAY PRICE PROJECTIONS
RESISTANCE 2,254.75 -  GO LONG here 2,298.17 place stoploss here 2,088.17


SUPPORT 2,139.25 -  -  


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 2,352.83-  


PulseWave BreakOut SUPPORT - 2,081.00-  




VOLATILITY
On 9/22/2011, $0$ NDX - NQ E-mini NASDAQ 100 FUTURES closed   
above the lower band by 32.1%.
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.