THE VULCAN REPORT
Review of CRUDE OIL FUTURES (US@CL.1)
as of Friday, August 05, 2011
Today's Price Action
Change -0.2000 (-0.23%) prices closed lower than they opened. with strong Bids going into the close.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
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: -37.53
Swing Vix: -35.72
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 7 period(s) ago. The 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-Bought Sell 66 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, CRUDE OIL FUTURES's price has decreased 11.26%, and has ranged from a high of 99.50 to a low of 82.87.
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 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. - 92.79
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 92.32
INTRADAY PRICE PROJECTIONS
RESISTANCE 88.59 place stoploss here
SUPPORT 82.60 GO SHORT here
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 102.18
PulseWave BreakOut SUPPORT - 92.02
Long term Trend Line resistance is currently at - 92.79
Long term Trend Line support is currently at - 70.76
BEAR MARKET DOWNTREND - (12-18mo) PRICE TARGET = 26.69
DEFLATED BUBBLE PHASE I - (24-36mo) PRICE DESTRUCTION TARGET = -17.38
DEFLATED BUBBLE PHASE 2 - (42-60mo) (PANIC SELLING EXTREME FEAR) PRICE DESTRUCTION TARGET = -61.45
DEFLATED BUBBLE PHASE 3 - (72mo+) (THE STOCK WILL PROBABLY BE DELISTED AND/OR FILE FOR BK 11) PRICE DESTRUCTION TARGET = -105.52
VOLATILITY
On 8/5/2011, CRUDE OIL FUTURES closed below the lower band by 14.2%.
HIGH VOLATILITY ALERT - A Breakout of Lower Volatility Band occured
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Review of CRUDE OIL FUTURES (US@CL.1)
as of Friday, August 05, 2011
Today's Price Action
Change -0.2000 (-0.23%) prices closed lower than they opened. with strong Bids going into the close.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
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: -37.53
Swing Vix: -35.72
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 7 period(s) ago. The 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-Bought Sell 66 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, CRUDE OIL FUTURES's price has decreased 11.26%, and has ranged from a high of 99.50 to a low of 82.87.
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 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. - 92.79
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 92.32
INTRADAY PRICE PROJECTIONS
RESISTANCE 88.59 place stoploss here
SUPPORT 82.60 GO SHORT here
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 102.18
PulseWave BreakOut SUPPORT - 92.02
Long term Trend Line resistance is currently at - 92.79
Long term Trend Line support is currently at - 70.76
BEAR MARKET DOWNTREND - (12-18mo) PRICE TARGET = 26.69
DEFLATED BUBBLE PHASE I - (24-36mo) PRICE DESTRUCTION TARGET = -17.38
DEFLATED BUBBLE PHASE 2 - (42-60mo) (PANIC SELLING EXTREME FEAR) PRICE DESTRUCTION TARGET = -61.45
DEFLATED BUBBLE PHASE 3 - (72mo+) (THE STOCK WILL PROBABLY BE DELISTED AND/OR FILE FOR BK 11) PRICE DESTRUCTION TARGET = -105.52
VOLATILITY
On 8/5/2011, CRUDE OIL FUTURES closed below the lower band by 14.2%.
HIGH VOLATILITY ALERT - A Breakout of Lower Volatility Band occured
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