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Monday, February 15, 2010

Update on The Ultimate Momentum Signal

Here is the updated spreadsheet showing the Momentum Signal as on the close of today, the 15th, Feb. 2010.  

 


As you can observe from the above spreadsheet, the signal has indicated a  +30 value which means either a  pause in the downward momentum or neutral momentum before a momentum shift.

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close on  tomorrow, the 16th, Feb. 2010 are given in the table below.




The Nifty Index seems to be showing an interesting technical pattern. ( Please see the chart below). These are called inverted flags or bear flags which are said to be continuation patterns. See the first flag and it's outcome to learn the operation of the pattern. Bear flags can be traded by selling when the lower support is broken. Is the second pattern also a bear flag? Only the market can answer that in the coming days!
 




 Cheers and Happy Trading!!!


You can also checkout the five year history of The Momentum Signal Spreadsheet from here.


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