New monitoring bracelet turns your moves into NikeFuel to help you set and achieve you fitness goals.

Nike joined the quantified self movement yesterday with the launch of its “Fuelband,” a bracelet that monitors your daily activity with a built-in accelerometer. It keeps track of the amount of time you've spent exercising, the number of calories you've burned and the steps you've taken, and converts your activity stats into “NikeFuel.”

The wristband works with the Nike+ data collection program and can sync with your smartphone or computer via a built-in USB plug or Bluetooth to display detailed info about your stats. Activity is measured in NikeFuel, and by keeping active continue to fill up your fuel gauge until it is full and you reach the goals you have set for yourself. Your progress is displayed via a series of 20 colored LED lights on the band that start in the red and go through orange, into yellow and finally green for your goal. The Nike+ Fuelband is now available to pre-order for $150.

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