THE VULCAN REPORT
Review of $0$ DJI - YM Mini Dow Jones FUTURES ($DJI)
as of Friday, August 12, 2011
Today's Price Action
Change 166.0000 (1.50%) prices closed higher than they opened. with strong Bids going into the close.
PulseScan Swing Vix
Swing Vix: -27.34
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, $0$ DJI - YM Mini Dow Jones FUTURES's price has decreased 0.11%, and has ranged from a high of 11,309.00 to a low of 10,401.00.
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
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. - 11,388.64
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 11,725.40
INTRADAY PRICE PROJECTIONS
RESISTANCE 11,329.85 - GO LONG here 11,566.67 place stoploss here 10,732.67
SUPPORT 10,871.15 - -
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 12,870.00-
PulseWave BreakOut SUPPORT - 12,132.33-
MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at - 11,388.64
Long term Trend Line support is currently at - 9,936.62
BEAR MARKET DOWNTREND - (12-18mo) PRICE TARGET = 7,032.58
On 8/12/2011, $0$ DJI - YM Mini Dow Jones FUTURES closed
above the lower band by 24.7%.
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.