8/15/2011 - DIG - PROSHARES ULTRA OIL & GAS ETF (DIG)

THE VULCAN REPORT
Review of $1$ DIG - PROSHARES ULTRA OIL & GAS ETF (DIG)
as of Friday, August 12, 2011


Today's Price Action


Change   prices closed lower than they opened. with weak Bids going into the close.  0.7900 (1.89%) 




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -33.82
Swing Vix:    -34.92


The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    1 period(s) ago.   
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  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, $1$ DIG - PROSHARES ULTRA OIL & GAS ETF's price has increased 1.89% , and has ranged from a high of  43.65 to a low of  38.21.


     MOMENTUM


     MARKET TREND - Currently the TREND is VERY-BEARISH - Heavy Distribution.


        TREND STRENGTH - WEAK - RANGE BOUND  (Prices have ceased trending and have become consolidated at this time) The market has put in a short term bottom. This means that the bears are liquidating short positions thus taking some profit off the table.,,,BEARISH MOMENTUM


TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. -    44.58
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    48.21


INTRADAY PRICE PROJECTIONS
RESISTANCE    43.73 -  GO LONG here    44.35 place stoploss here    41.29


SUPPORT    42.04 -  -  


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    62.89-  


PulseWave BreakOut SUPPORT -    53.01-  


MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at -    44.58
Long term Trend Line support is currently at -    25.53
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =   -12.57


VOLATILITY
On 8/12/2011, $1$ DIG - PROSHARES ULTRA OIL & GAS ETF closed   
above the lower band by 21.2%.
This combined with the steep downtrend suggests that the downward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.