Update on The Ultimate Momentum Signal - 15th Sept. 2010

 Time for a breather after the scorching rally .. ?

The markets had a stupendous rally in the last ten trading days. In fact the trading range of the last ten days has a span of almost 500 points. Now, the question is whether the time to take a breather has arrived ?  The advance decline statistics  for the day as seen in the TV seems to suggest that some profit booking  has been done on Tuesday. The intraday correction from the 5845 levels also suggest that a consolidation may be in store in the short term. However, the bullish momentum of the breakout remains intact until proven otherwise.

   Nifty Futures - Daily Chart     

The trading stop for long positions under the Ultimate Momentum Signal system remains at  5722 ( i.e. 5845 minus 2.1 % of 5845 ). 

Updated Momentum Signal Spreadsheet

The updated spreadsheet showing the Momentum Signal as at the close of the trading on  14th  September, 2010 is given below : 

 

 

Nifty futures and the tracked indices have closed with the maximum upward Momentum Signal values of +100 for the sixth consecutive day.

Projected Momentum Signal Close Values

The projected levels Momentum Signal values applicable to various ranges of closing values of the Nifty Futures, Nifty Index and the BSE Sensex,  as at the close of next trading day, ie. as on  15th September, 2010, are given in the following table.

 Please click on the table to enlarge. For more info on the above table,  please click here.  

 

Cheers and Prosperous Investing and Trading !!!

To access and/or download  the free online Position Limit Calculator click here.

To checkout the five year history of The Momentum Signal Spreadsheet click here

 

© 2010, momentumsignal.blogspot.com

All rights reserved. Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.

Update on The Ultimate Momentum Signal - 14th Sept. 2010

Bulls on  Rampage ... !!!

The expected mad scramble to get in to the stock rally, as envisaged in the posts dated 23rd Aug. and 9th Sept. 2010 was unleashed on Monday, the first trading day of the new week. As already stated in the previous posts strong bull markets have no real resistances and therefore the selection of a target is a difficult process. Just waiting for the rally to end by its own is the best option to traders now. 

   Nifty Futures - Daily Chart    

   

The high and low of Monday's gap in the Nifty futures may act as supports on any consolidation from now on. These supports are at 5640 and 5670 as shown in the chart.

Nifty Index - Daily Chart

The above picture is self explanatory about the breakout above the eleven month old upward moving trading channel.

Updated Momentum Signal Spreadsheet

The updated spreadsheet showing the Momentum Signal as at the close of the trading on  13th  September, 2010 is given below : 

 

 

 

Nifty futures and the tracked indices have closed with the maximum upward Momentum Signal values of +100.

Projected Momentum Signal Close Values

The projected levels Momentum Signal values applicable to various ranges of closing values of the Nifty Futures, Nifty Index and the BSE Sensex,  as at the close of next trading day, ie. as on  14th September, 2010, are given in the following table.

 

 

Please click on the table to enlarge. For more info on the above table,  please click here.  

 

As the market has clearly broken out of the trading range, the specific risk factor of the system indicating many whipsaw signals is withdrawn. 

Cheers and Prosperous Investing and Trading !!!

To access and/or download  the free online Position Limit Calculator click here.

To checkout the five year history of The Momentum Signal Spreadsheet click here

 

© 2010, momentumsignal.blogspot.com All rights reserved.

Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.