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ZC - CORN E-CBOT Continuous

|Includes:Teucrium Corn ETF (CORN)
8/15/2011 - CORN E-CBOT Continuous
 

THE VULCAN REPORT
Review of $0$ ZC - CORN E-CBOT Continuous (@:ZCC1#I)
as of Friday, August 12, 2011


Today's Price Action


Change   -1.5000 (-0.21%) prices closed lower than they opened. with weak Bids going into the close. 


A bearish harami occurred (where the current small black body is contained within an unusually large white body).  During an uptrend (which appears to be the case with $0$ ZC - CORN E-CBOT Continuous) this pattern implies an end to the rally as the bulls appear to have exhausted themselves.


During a downtrend the bearish harami pattern is bullish as the bulls appear to be gaining strength as the bears weaken.


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:      0.04
Swing Vix:     -1.22


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    0 period(s) ago.This means that positive momentum has entered the market. Expect sideways to higher prices within the next 3-5 days 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 23 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, $0$ ZC - CORN E-CBOT Continuous's price has been unchanged, and has ranged from a high of 707.75 to a low of 697.50.


     MOMENTUM


     MARKET TREND - Currently the TREND is .


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


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -   587.58
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -   626.28


INTRADAY PRICE PROJECTIONS
RESISTANCE   708.26 -  GO LONG here   712.42 place stoploss here   691.92


SUPPORT   696.99 - GO SHORT here   691.92 - place stoploss here   712.42 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -   734.08- GO LONG here   734.08 place stoploss here   691.92


PulseWave BreakOut SUPPORT -   646.50-  


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 1,224.10
Long term Trend Line resistance is currently at -   799.75
Long term Trend Line support is currently at -   587.58


VOLATILITY
On 8/12/2011, $0$ ZC - CORN E-CBOT Continuous closed   
below the upper band by 23.5%.
Stocks: CORN