Review of QQQQ - NASDAQ 100 ETF (QQQQ)
as of Tuesday, August 17, 2010
Today's Price Action
Change with weak Bids going into the close. 0.5720 (1.28%) prices closed higher than they opened.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -29.36
Swing Vix: -24.69
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 5 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 4 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s). This is bearish.The Swing Vix has set a new 14-period low while the security price has not. This is a bearish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if downside pressure develops.
*Since the last Swing Vix signal, QQQQ - NASDAQ 100 ETF's price has decreased 2.78%, and has ranged from a high of 46.9500 to a low of 44.3000.
MOMENTUM
MARKET TREND - Currently the TREND is - Neutral within the Bearish KUMO Consolidation cloud(Possible Trend Reversal) with Upside Bullish Breakout risk. A close below 44.1800 is needed to re-establish the downward trend. However a close above 45.9400 will establish a new upward trend.
TREND STRENGTH - ,
There is currently no trend strenght reading at this time.
TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 44.5550
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 44.1487
The close is currently Below it's Intermediate Term TRENDLINE RETRACEMENT. - 45.7116
The close is currently Below it's Short Term TRENDLINE RETRACEMENT. - 45.5659
INTRADAY PRICE PROJECTIONS
RESISTANCE 45.6112
SUPPORT 45.1987
WEEKLY PRICE PROJECTIONS
RESISTANCE 47.1900
SUPPORT 44.3000
VOLATILITY
On 8/17/2010, QQQQ - NASDAQ 100 ETF closed
above the lower band by 30.0%.
IN PLAY - (PANDORA'S LITTLE BLACK BOX)
LONG Signals :
RALLY ALERT - (Market Bottom) Possible Breakout is likely due to strong market pulse projections
LONG ENTRY- 45.8175
Profit Target 48.3940
Stop Loss 44.9925
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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