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

THE VULCAN REPORT
Review of $0$ QLD - PROSHARES ULTRA QQQ ETF (QLD)
as of Thursday, September 08, 2011


Today's Price Action


Change   -0.7300 (-0.92%) with weak Bids going into the close. prices closed higher than they opened. 


A long upper shadow occurred.  This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
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:     18.09
Swing Vix:     19.59


The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of    2 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 21 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, $0$ QLD - PROSHARES ULTRA QQQ ETF's price has increased 4.05% , and has ranged from a high of  80.63 to a low of  71.41.


     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. -    80.07




INTRADAY PRICE PROJECTIONS
RESISTANCE    80.77 -   


SUPPORT    77.73 - GO SHORT here    76.18 - place stoploss here    81.70 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    84.01-  


PulseWave BreakOut SUPPORT -    67.45- GO SHORT here    67.45 place stoploss here    81.70




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 9/8/2011, $0$ QLD - PROSHARES ULTRA QQQ ETF closed   
below the upper band by 31.7%.