THE VULCAN REPORT
Review of $1ZC - CORN E-CBOT Continuous (@:ZCC1#I)
as of Wednesday, July 27, 2011
Today's Price Action
Change 1.5000 (0.22%) prices closed higher than they opened. with strong Bids going into the close.
A hammer occurred (a hammer has a long lower shadow and closes near the high). Hammers must appear after a significant decline or when prices are oversold to be valid. When this occurs, it usually indicates the formation of a support level and is thus considered a bullish pattern.
A hanging man occurred (a hanging man has a very long lower shadow and a small real body). This pattern can be bullish or bearish, depending on the trend. If it occurs during an uptrend (which appears to be the case with $1ZC - CORN E-CBOT Continuous) it is called a hanging man line and signifies a reversal top. If it occurs during a downtrend it is called a bullish hammer.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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.
PulseScan Swing Vix
Swing Vix: 17.25
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 4 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 12 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, $1ZC - CORN E-CBOT Continuous's price has increased 1.80% , and has ranged from a high of 693.00 to a low of 670.75.
MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at- 580.88 Slightly Bearish - .
TREND STRENGTH - ,,,BEARISH MOMENTUM
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 580.88
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 623.42
INTRADAY PRICE PROJECTIONS
RESISTANCE 693.80 place stoploss here GO LONG here
SUPPORT 676.20 GO SHORT here place stoploss here
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 723.50 place stoploss here
PulseWave BreakOut SUPPORT - 670.75 GO SHORT here
On 7/27/2011, $1ZC - CORN E-CBOT Continuous closed
below the upper band by 29.1%.