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01/27/2011 - AGQ

|Includes:ProShares Ultra Silver ETF (AGQ)

 Thursday, January 27, 2011

01/27/2011 - AGQ
 
THE VULCAN REPORT
Review of $AGQ - PROSHARES ULTRA SILVER ETF (NYSEARCA:AGQ)
as of Wednesday, January 26, 2011


Today's Price Action


Change    6.0200 (5.09%) 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.


An engulfing bullish line occurred (where a white candle's real body completely contains the previous black candle's real body).  The engulfing bullish pattern is bullish during a downtrend (which appears to be the case with $AGQ - PROSHARES ULTRA SILVER ETF).  It then signifies that the momentum may be shifting from the bears to the bulls.


If the engulfing bullish pattern occurs during an uptrend, it may be a last engulfing top which indicates a top.  The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -41.94
Swing Vix:    -41.92


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    5 period(s) ago. The Swing Vix is below -39.  This is where it usually bottoms.  The Swing Vix usually forms tops and bottoms 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 15 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, $AGQ - PROSHARES ULTRA SILVER ETF's price has decreased 8.63%, and has ranged from a high of 143.0700 to a low of 116.7700.


     MOMENTUM


     MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at- 101.4995.


        TREND STRENGTH - ,
There is currently no trend strenght reading at this time.


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 101.4995
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -  90.2492
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. - 128.6292 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 128.4193 


INTRADAY PRICE PROJECTIONS
RESISTANCE 122.6857
SUPPORT 118.5443


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 145.9100
PulseWave BreakOut SUPPORT - 116.7700


VOLATILITY
On 1/26/2011, $AGQ - PROSHARES ULTRA SILVER ETF closed   
above the lower band by 19.9%.
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.    
Click to enlarge 


Risk Disclosure

General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only.The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser.


This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.


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BULLS make money... BEARS make money.... PIGS get slaughtered!


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Stocks: AGQ