Review of NASDAQ 100 ETF (QQQQ)
as of Wednesday, July 28, 2010
Today's Price Action
Change -0.4200 (-0.90%) prices closed lower than they opened. with weak Bids going into the close.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: 42.59
Swing Vix: 41.57
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 3 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-Sold Buy 15 period(s) Ago.
The Swing Vix has just reached its highest value in the last 14 period(s). This is bullish.The Swing Vix has set a new 14-period high while the security price 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, NASDAQ 100 ETF's price has decreased 0.13%, and has ranged from a high of 46.7200 to a low of 45.3800.
MOMENTUM
MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at- 43.0250.
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 Long Term TRENDLINE RETRACEMENT. - 43.0250
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 45.6269
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 45.6528
INTRADAY PRICE PROJECTIONS
RESISTANCE 46.4225
SUPPORT 46.0375
WEEKLY PRICE PROJECTIONS
RESISTANCE 46.7200
SUPPORT 43.8600
MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 65.9000
Long term Trend Line resistance is currently at - 50.6500
Long term Trend Line support is currently at - 43.0250
BULL MARKET HYPER PARABOLIC CIRCUIT BREAKERS
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 111.6500
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 96.4000
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 81.1500
VOLATILITY
On 7/28/2010, NASDAQ 100 ETF closed
below the upper band by 24.2%.
IN PLAY - (PANDORA'S LITTLE BLACK BOX)
LONG Signals :
Positive Swing Vix with Bullish Momentum.
LONG ENTRY- 46.6150
Profit Target 48.9533
Stop Loss 45.8450
SHORT Signals :
SHORT POSITIONS FOR THIS SECURITY ARE NOT IN PLAY AT THIS TIME!
Risk Disclosure
General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser. This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.
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