Ultra Financials ProShares(UYG) is in an downtrend

(23-May-2008) (23-May-2008) Ultra Financials ProShares(UYG) closed at 28.06, down -0.35 or -1.23 % today. Based on our analysis, Ultra Financials ProShares(UYG) is in an downtrend.

The closing price of Ultra Financials ProShares(UYG) is below its 50 day moving average of 31.77 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Ultra Financials ProShares(UYG) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 8-May-2008, about 20 trading days ago.