Wednesday, August 10, 2011
8/10/2011 - SPY (SPY)
THE VULCAN REPORT
Review of SPY (SPY)
as of Wednesday, August 10, 2011
Today's Price Action
Change -4.0900 (-3.48%) prices closed lower than they opened. with weak Bids going into the close.
PulseScan Swing Vix
Swing Vix: -36.76
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 1 period(s) ago.
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 1 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, SPY's price has decreased 3.48%, and has ranged from a high of 117.64 to a low of 110.27.
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. - 120.74
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 125.36
INTRADAY PRICE PROJECTIONS
RESISTANCE 115.58 place stoploss here GO LONG here
SUPPORT 112.58 GO SHORT here place stoploss here
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 136.14
PulseWave BreakOut SUPPORT - 128.86
Long term Trend Line resistance is currently at - 120.74
Long term Trend Line support is currently at - 104.29
BEAR MARKET DOWNTREND - (12-18mo) PRICE TARGET = 71.40
DEFLATED BUBBLE PHASE I - (24-36mo) PRICE DESTRUCTION TARGET = 38.51
DEFLATED BUBBLE PHASE 2 - (42-60mo) (PANIC SELLING EXTREME FEAR) PRICE DESTRUCTION TARGET = 5.62
DEFLATED BUBBLE PHASE 3 - (72mo+) (THE STOCK WILL PROBABLY BE DELISTED AND/OR FILE FOR BK 11) PRICE DESTRUCTION TARGET = -27.27
On 8/10/2011, SPY closed below the lower band by 1.4%.
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.