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Tuesday, August 9, 2011

8/9/2011 - QID SHORT QQQ


THE VULCAN REPORT
Review of QID - SHORT QQQ (QID)
as of Monday, August 08, 2011


Today's Price Action


Change    6.6720 (12.02%) prices closed higher than they opened.  with strong Bids going into the close.This is generally considered bullish, as prices closed significantly higher than they opened.  If the candle appears when prices are "low," it may be the first sign of a bottom.  If it occurs when prices are rebounding off of a support area , the long white candle adds credibility to the support.  Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.


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:     38.83
Swing Vix:     35.50


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    8 period(s) ago. The Swing Vix is above 29.  This is where it usually forms Resistance.  The Swing Vix usually forms Resistance 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-Sold Buy  8 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, QID - SHORT QQQ's price has increased 29.22% , and has ranged from a high of  62.18 to a low of  46.31.


     MOMENTUM


     MARKET TREND - Currently the TREND is -The DownTrend is still entact with prices holding below trendline resistance at-    71.29.


        TREND STRENGTH - T/K BREAKOUT,,BULLISH MOMENTUM,


TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. -    71.29
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    61.54


INTRADAY PRICE PROJECTIONS
RESISTANCE    62.44  GO LONG here
SUPPORT    56.76  place stoploss here


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    51.86  
PulseWave BreakOut SUPPORT -    44.88  


VOLATILITY
On 8/8/2011, QID - SHORT QQQ closed   above the upper band by 32.1%.

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