Video Bar

Loading...

Thursday, September 1, 2011

9/1/2011 - DIG - PROSHARES ULTRA OIL & GAS ETF


THE VULCAN REPORT
Review of $0$ DIG - PROSHARES ULTRA OIL & GAS ETF (DIG)
as of Wednesday, August 31, 2011


Today's Price Action


Change   prices closed lower than they opened. with weak Bids going into the close.  0.5300 (1.22%) 


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.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:      9.10
Swing Vix:      5.28


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    4 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 14 period(s) Ago.
The Swing Vix has just reached its highest value in the last 14 period(s).  This is bullish.The Swing Vix has set a new 14-period high while the security price has not.  This is a bullish divergence. Since the PulseScan leads the market 3-5 days out  We will wait to see if an upside breakout occurs.
      
  *Since the last Swing Vix signal, $0$ DIG - PROSHARES ULTRA OIL & GAS ETF's price has increased 12.38% , and has ranged from a high of  45.14 to a low of  37.42.


     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. -    44.58


The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    47.62




INTRADAY PRICE PROJECTIONS
RESISTANCE    45.24 -   


SUPPORT    43.07 - GO SHORT here    42.11 - place stoploss here    46.05 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    50.44-  


PulseWave BreakOut SUPPORT -    34.95- GO SHORT here    34.95 place stoploss here    46.05




MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at -    44.58
Long term Trend Line support is currently at -    25.53
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =   -12.57


VOLATILITY
On 8/31/2011, $0$ DIG - PROSHARES ULTRA OIL & GAS ETF closed   
below the upper band by 27.7%.
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.     

No comments:

Post a Comment