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9/2/2011 - QLD - PROSHARES ULTRA QQQ ETF

|Includes: ProShares Ultra QQQ ETF (QLD)
Friday, September 2, 2011
9/2/2011 - QLD - PROSHARES ULTRA QQQ ETF
 

THE VULCAN REPORT
Review of $0$ QLD - PROSHARES ULTRA QQQ ETF (NYSEARCA:QLD)
as of Thursday, September 01, 2011


Today's Price Action


Change   -1.5800 (-1.96%) prices closed lower than they opened. with weak Bids going into the close. 




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     35.03
Swing Vix:     30.84


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    5 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.CRASH ALERT  - (Short-term Market Top) Possible Selloff is likely do to weak market pulse projections  
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 17 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, $0$ QLD - PROSHARES ULTRA QQQ ETF's price has increased 10.58% , and has ranged from a high of  82.43 to a low of  69.61.


     MOMENTUM


     MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at-    73.93.


        TREND STRENGTH - ,,,BEARISH MOMENTUM


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -    73.93


The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -    80.12




INTRADAY PRICE PROJECTIONS
RESISTANCE    82.31 -   


SUPPORT    78.50 - GO SHORT here    76.45 - place stoploss here    83.39 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    80.95-  


PulseWave BreakOut SUPPORT -    63.60- GO SHORT here    63.60 place stoploss here    83.39




MONTHLY PRICE PROJECTIONS
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


VOLATILITY
On 9/1/2011, $0$ QLD - PROSHARES ULTRA QQQ ETF closed   
below the upper band by 24.9%.
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.