11/11/2010 - AGQ

THE VULCAN REPORT
Review of ETF - AGQ - PROSHARES ULTRA SILVER ETF (AGQ)
as of Wednesday, November 10, 2010

Today's Price Action

Change prices closed lower than they opened. 5.4200 (4.42%) with strong Bids going into the close.

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).

MARKET SENTIMENT

PulseScan Swing Vix

PulseScan: 28.12
Swing Vix: 31.20

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 1 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-Bought Sell 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, ETF - AGQ - PROSHARES ULTRA SILVER ETF's price has increased 4.42% , and has ranged from a high of 147.5500 to a low of 119.0000.

MOMENTUM

MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.

TREND STRENGTH - STRONG - Bullish Trend,

TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 94.5500
 The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 67.6163
 The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 90.5859
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 116.6139

INTRADAY PRICE PROJECTIONS
RESISTANCE 129.0865
SUPPORT 122.6735

WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 105.2000
PulseWave BreakOut SUPPORT - 92.0000

MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 253.5500
Long term Trend Line resistance is currently at - 147.5500
Long term Trend Line support is currently at - 94.5500

MONTHLY PRICE PROJECTIONS
 BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 571.5500
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 465.5500
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 359.5500

 VOLATILITY
On 11/10/2010, ETF - AGQ - PROSHARES ULTRA SILVER ETF closed
below the upper band by 4.0%.
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.