8/15/2011 - QQQ - POWERSHARES QQQ TRUST SRS 1 ETF

THE VULCAN REPORT
Review of $1$ QQQ - POWERSHARES QQQ TRUST SRS 1 ETF (QQQ.O)
as of Friday, August 12, 2011


Today's Price Action


Change    0.4700 (0.89%) prices closed higher than they opened.  with strong Bids going into the close.


A spinning top occurred (a spinning top is a candle with a small real body).  Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close).  During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -27.81
Swing Vix:    -29.50


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. 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-Sold Buy  3 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, $1$ QQQ - POWERSHARES QQQ TRUST SRS 1 ETF's price has increased 0.89% , and has ranged from a high of  53.90 to a low of  51.34.


     MOMENTUM


     MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at-    51.40.


        TREND STRENGTH - ,,,BEARISH MOMENTUM


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -    51.40


The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -    54.09


INTRADAY PRICE PROJECTIONS
RESISTANCE    53.95 -  GO LONG here    54.47 place stoploss here    52.43


SUPPORT    52.83 - GO SHORT here    52.43 - place stoploss here    54.47 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    60.23-  


PulseWave BreakOut SUPPORT -    56.07-  


MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at -    51.40
Long term Trend Line support is currently at -    42.97
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =    26.11


VOLATILITY
On 8/12/2011, $1$ QQQ - POWERSHARES QQQ TRUST SRS 1 ETF closed   
above the lower band by 25.9%.
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.