Monday, March 22, 2010

Update on The Ultimate Momentum Signal, 23rd March, 2010

 The Breakout - Day 15

 Caution - Make or Brake it Days Ahead... !

On Monday, the Nifty futures opened 70 points below the previous day's last trade  as a consequence to the shock rate hike by the RBI and due to the weakness in the Hong Kong and the Singapore markets. It traded upwards till 11 o'clock and thereafter started the slow decline. Finally, it closed at 5207. Surprisingly, the trialing stop at 5170 stood unaffected during the day and the system has  not yet signaled an exit.


Nifty Futures - Daily Chart  


At the time of writing this post, the European markets have recouped their intraday losses and the US markets are trading in the positive territory. Barring the Hang Seng index, no other major equity index seems to  be in trouble as on Moday. The Japanese markets were closed on Monday. The bunching of a trading holiday on Wednesday and the expiry of the derivatives on Thursday makes the markets very unpredictable. Watch out for make or  break it kind of days ahead...!  


The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   22nd March 2010, is given below.
The value of the Ultimate Momentum Signal has come down to a marginally positive +60 after remaining at  the maximum of +100 for fourteen trading days.


 Projected Momentum Signal Close Values

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close  of trading  on 23rd 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. For more info on the above table,  please click here.
                                                
The trailing stop still remains at 5170. However, the closing values required for continuation of the uptrend has moved upwards and are presently placed at 5216 and 5209 for the futures and the index respectively. These values are above the today's closing values. All traders are advised to be cautious in the market as the break out may be in any direction.



Or the make or break days are here again...!




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2 comments:

vineet said...

Hi,

I came across your blog a few days back ...

Must say it is a very well maintained blog. A lot of hard work has gone into it ....

mometumsignal said...

Thank you ...!
Keep coming back...