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Tuesday, August 9, 2011

8/9/2011 - DUG -- SHORT OIL


THE VULCAN REPORT
Review of DUG -- SHORT OIL (DUG)
as of Tuesday, August 09, 2011


Today's Price Action


Change   -2.4500 (-6.32%) prices closed lower than they opened. with weak Bids going into the close. 




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     36.54
Swing Vix:     36.77


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    0 period(s) ago. This means that negative momentum has entered the market. Expect sideways to lower prices within the next 3-5 daysHowever, the Swing Vix just crossed below 39 from a topping formation.  This is a bearish sign.  
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  0 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, DUG -- SHORT OIL's price has been unchanged, and has ranged from a high of  38.87 to a low of  36.13.


     MOMENTUM


     MARKET TREND - Currently the TREND is -The DownTrend is still entact with prices holding below trendline resistance at-    48.01.


        TREND STRENGTH - ,,BULLISH MOMENTUM,


TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. -    48.01
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    38.52


INTRADAY PRICE PROJECTIONS
RESISTANCE    39.01 place stoploss here 
SUPPORT    35.99 GO SHORT here 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    29.14  
PulseWave BreakOut SUPPORT -    24.41  


VOLATILITY
On 8/9/2011, DUG -- SHORT OIL closed   above the upper band by 2.1%.


This combined with the steep uptrend suggests that the upward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.     


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