Review of $AGQ - PROSHARES ULTRA SILVER ETF (AGQ)
as of Tuesday, November 30, 2010
Today's Price Action
Change 8.3100 (6.65%) prices closed higher than they opened. with strong Bids going into the close.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 8 rising windows in the last 50 candles--this makes the current rising window even more bullish.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: 3.48
Swing Vix: 3.04
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 0 period(s) ago.This means that positive momentum has entered the market. Expect sideways to higher prices within the next 3-5 days 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 14 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The security price has set a new 14-period high while the Swing Vix 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, $AGQ - PROSHARES ULTRA SILVER ETF's price has been unchanged, and has ranged from a high of 135.7700 to a low of 127.6700.
MOMENTUM
MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.
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.T/K BREAKOUT,
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. - 72.7268
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 101.8410
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 123.9844
INTRADAY PRICE PROJECTIONS
RESISTANCE 133.9475
SUPPORT 129.4925
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 131.5300
PulseWave BreakOut SUPPORT - 119.1600
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 11/30/2010, $AGQ - PROSHARES ULTRA SILVER ETF closed
below the upper band by 16.5%.
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.
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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