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Tuesday, August 9, 2011

8/10/2011 - QID (NASDAQ 100)


THE VULCAN REPORT
Review of $1$ QLD - PROSHARES ULTRA QQQ ETF (QLD)
as of Tuesday, August 09, 2011


Today's Price Action


Change    6.3900 (9.25%) prices closed higher than they opened.  with strong Bids going into the close.




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -34.73
Swing Vix:    -35.77


The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    0 period(s) ago.This means that positive momentum has entered the market. Expect sideways to higher prices within the next 3-5 days However, the Swing Vix just crossed above -39 from a bottoming formation. This is a bullish sign.  
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  0 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, $1$ QLD - PROSHARES ULTRA QQQ ETF's price has been unchanged, and has ranged from a high of  75.58 to a low of  67.05.


     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. -    73.93
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    80.74




INTRADAY PRICE PROJECTIONS
RESISTANCE    76.01  GO LONG here
SUPPORT    66.62  place stoploss here


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    98.35  
PulseWave BreakOut SUPPORT -    85.30  


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


DEFLATED BUBBLE PHASE I  - (24-36mo) PRICE DESTRUCTION TARGET =   -41.85
DEFLATED BUBBLE PHASE 2 - (42-60mo) (PANIC SELLING EXTREME FEAR) PRICE DESTRUCTION TARGET =   -88.16
DEFLATED BUBBLE PHASE 3  - (72mo+) (THE STOCK WILL PROBABLY BE DELISTED AND/OR FILE FOR BK 11) PRICE DESTRUCTION TARGET =  -134.47


VOLATILITY
On 8/9/2011, $1$ QLD - PROSHARES ULTRA QQQ ETF closed   
above the lower band by 5.1%.
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.  

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