9/1/2011 - QLD - PROSHARES ULTRA QQQ ETF

THE VULCAN REPORT
Review of $0$ QLD - PROSHARES ULTRA QQQ ETF (QLD)
as of Wednesday, August 31, 2011


Today's Price Action


Change   prices closed lower than they opened. with weak Bids going into the close.  0.3700 (0.46%) 


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:     28.12
Swing Vix:     22.46


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, $0$ QLD - PROSHARES ULTRA QQQ ETF's price has increased 12.79% , and has ranged from a high of  82.43 to a low of  69.61.


     MOMENTUM


     MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at-    73.93.


        TREND STRENGTH - ,,,BEARISH MOMENTUM


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -    73.93


The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -    80.10




INTRADAY PRICE PROJECTIONS
RESISTANCE    82.60 -   


SUPPORT    78.93 - GO SHORT here    77.35 - place stoploss here    84.01 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    80.95-  


PulseWave BreakOut SUPPORT -    63.60- GO SHORT here    63.60 place stoploss here    84.01


MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at -    73.93
Long term Trend Line support is currently at -    50.77
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =     4.46


VOLATILITY
On 8/31/2011, $0$ QLD - PROSHARES ULTRA QQQ ETF closed   
below the upper band by 16.1%.
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.