We propose here a novel method of analysing turbulent momentum flux signals. The data for the analysis come from a nearly neutral atmospheric boundary layer and are taken at a height of 4m above ground corresponding to 1.1 x 10(5) wall units, within the log layer for the mean velocity. The method of analysis involves examining the instantaneous flux profiles that exceed a given threshold, for which an optimum value is found to be 1 s.d. of the flux signal. It is found feasible to identify normalized flux variation signatures separately for positive and negative 'flux events'-the sign being determined by that of the flux itself. Using these signatures, the flux signal is transformed to one of events characterized by the time of occurrence, duration and intensity. It is also found that both the average duration and the average time-interval between successive events are of order 1s, about four orders of magnitude higher than a wall unit in time. This episodic description of the turbulence flux in the time domain enables us to identify separately productive, counter-productive and idle periods (accounting, respectively, for 36, 15 and 49% of the time), taking as criterion the generation of the momentum flux. A 'burstiness' index of 0.72 is found for the data. Comparison with laboratory data indicates higher (/lower) ejection (/sweep) quadrant occupancy but lower (/higher) contributions to flux from the ejection (/sweep) quadrant at the high Reynolds numbers of the atmospheric boundary layer. Possible connections with the concept of active and passive motion in a turbulent boundary layer are briefly discussed.