Review of DOUBLE SILVER ETF (AGQ)
as of Tuesday, April 12, 2011 4:00 PM
Today's Price Action
Change with weak Bids going into the close. 0.3400 (0.14%) prices closed higher than they opened.
An inverted hammer occurred. If this occurs during a downtrend (which appears to be the case with DOUBLE SILVER ETF) it implies a reversal. Look for a confirmation of the reversal on the bar.
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).
A shooting star occurred (a shooting star has a small real body near the bottom of the candle and a long upper shadow). During an uptrend the long upper shadow indicates that the bears are gaining control and a top may occur.
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.
PulseScan Swing Vix
Swing Vix: -30.52
The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of 12 period(s) ago. The Swing Vix is below -29. This is where it usually forms Support. The Swing Vix usually forms Support before the underlying security.
A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area.
*The last signal was a Over-Bought Sell 10 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s). This is bearish.The Swing Vix has set a new 14-period low while the security price has not. This is a bearish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if downside pressure develops.
*Since the last Swing Vix signal, DOUBLE SILVER ETF's price has decreased 6.02%, and has ranged from a high of 269.0000 to a low of 248.0100.
MARKET TREND - Currently the TREND is Slightly Bullish - .
TREND STRENGTH - WEAK - RANGE BOUND (Prices have ceased trending and have become consolidated at this time) The market has put in a short term top. This means that the bulls are liquidating long positions thus taking some profit off the table.,
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 212.6650
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 210.7319
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 245.4832
The close is currently Below it's Short Term TRENDLINE RETRACEMENT. - 254.1843
INTRADAY PRICE PROJECTIONS
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 260.3800
PulseWave BreakOut SUPPORT - 248.0100
MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 382.8700
Long term Trend Line resistance is currently at - 269.4000
Long term Trend Line support is currently at - 212.6650
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 723.2800
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 609.8100
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 496.3400
On 4/12/2011 4:00 PM, DOUBLE SILVER ETF closed
above the lower band by 19.6%.