9/1/2011 - FAS - DIREXION DAILY FIN BULL 3X ETF

THE VULCAN REPORT
Review of $0$ FAS - DIREXION DAILY FIN BULL 3X ETF (FAS)
as of Wednesday, August 31, 2011


Today's Price Action


Change    0.4800 (3.17%)  with strong Bids going into the close.




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     27.96
Swing Vix:     22.32


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    4 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 16 period(s) Ago.
The Swing Vix has just reached its highest value in the last 14 period(s).  This is bullish.
      
  *Since the last Swing Vix signal, $0$ FAS - DIREXION DAILY FIN BULL 3X ETF's price has increased 17.28% , and has ranged from a high of  15.95 to a low of  12.36.


     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. -    21.51


The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    24.69




INTRADAY PRICE PROJECTIONS
RESISTANCE    15.99 -   


SUPPORT    15.13 - GO SHORT here    14.80 - place stoploss here    16.36 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    16.36-  


PulseWave BreakOut SUPPORT -    10.61- GO SHORT here    10.61 place stoploss here    16.36




MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at -    21.51
Long term Trend Line support is currently at -     8.72
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =   -16.85


VOLATILITY
On 8/31/2011, $0$ FAS - DIREXION DAILY FIN BULL 3X ETF closed   
below the upper band by 29.5%.
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.