Sunday, March 7, 2010

Update on The Ultimate Momentum Signal

 The Breakout - Day 5
All izz well.......?

The Nifty futures traded sideways last Friday, indicating consolidation. Meanwhile, the US markets rallied further on the last Friday. The Nasdaq Composite index touched the previous Jan. 2010 high and the Dow Jones and the S&P 500 indices are trading around 100 and 10 points respectively off their Jan. 2010 highs. The VIX ( Volatility Index ) is almost at the post bear market lows. In London, the FTSE closed at a new high. However, the Asian markets except India are lagging the western markets at this phase. The India VIX also collapsed during the past week. We may see some more upside during the coming week.

S&P CNX Nifty Index - Daily Chart

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   5th, March, 2010 is given below.
The Momentum Signal has returned the maximum value of +100 for the fifth consecutive day.

 Projected Momentum Signal Close Values

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close  of trading as on 8th, March 2010 are given in the table below. The table also include the projected closing values of BSE Sensex required for momentum shift / neutrality / continuation.

  You can click on the table to enlarge.  

The closing values required for a neutral momentum  or the reversal of  the momentum signal are far away from latest closing values.
Cheers and Prosperous Investing and Trading!!!

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