Review of GLD - COMEX Gold FUTURES ETF (GLD)
as of Tuesday, August 17, 2010
Today's Price Action
Change with weak Bids going into the close. 0.0200 (0.02%)
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: 44.60
Swing Vix: 43.45
The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of 12 period(s) ago. The Swing Vix is above 39. This is where it usually tops. The Swing Vix usually forms tops and bottoms 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-Bought Sell 65 period(s) Ago.
The Swing Vix has just reached its highest value in the last 14 period(s). This is bullish.
*Since the last Swing Vix signal, GLD - COMEX Gold FUTURES ETF's price has increased 3.69% , and has ranged from a high of 119.9700 to a low of 114.0800.
MOMENTUM
MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at- 107.1850.
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.,
TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 107.1850
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 109.3179
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 117.2778
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 118.1801
INTRADAY PRICE PROJECTIONS
RESISTANCE 119.8868
SUPPORT 119.6833
WEEKLY PRICE PROJECTIONS
RESISTANCE 118.4200
SUPPORT 116.4000
MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 156.3100
Long term Trend Line resistance is currently at - 123.5600
Long term Trend Line support is currently at - 107.1850
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 254.5600
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 221.8100
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 189.0600
VOLATILITY
On 8/17/2010, GLD - COMEX Gold FUTURES ETF closed
below the upper band by 6.1%.
IN PLAY - (PANDORA'S LITTLE BLACK BOX)
LONG Signals :
3rd PulseWave
LONG ENTRY - 123.5600
Profit Target 156.3100
Stop Loss/Stop & Reverse 119.5815
SHORT Signals :
SHORT POSITIONS FOR THIS SECURITY ARE NOT IN PLAY AT THIS TIME!