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%.
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