Saturday, April 14, 2012

The Dow 30 - Ichimoku Study - Week: 09 April to 13 April 2012 - Bear touch..

Quick Reference : 
The Tenkan Sen - red line
The Kijun Sen - blue line
The Chikou Span - purple line
The Senkou Span A - black line
The Senkou Span B - grey line
The Kumo - grey shaded area.

Useful resources (free) from the Web:

DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
DJI 30 - End of Week Chart - 13 April 2012  
Last 6 Signals seen on DJI 30 - Week Chart (EOW) in brief: 
1. Senkou Span Cross: Neutral Bullish Signal
2. Chikou Span Cross: Strong Bullish Signal
3. Tenkan Sen/Kijun Sen Cross: Neutral Bullish Signal
4. Kumo Breakout: Bullish Signal
5. The Flat Kumo: Bearish Signal
6Tenkan Sen Cross: Weak  Bearish  Signal (minor)
In our study, we consider as important, the signals of the previous posts, summarized above.

A. Although not an official signal, the Price crossing the Tenkan Sen (red line) is considered as an early warning sign of sentiment reversal. In this case from Bull to Bear.

Bulls are still all over this screen. Bears need to stay below the Tenkan Sen to have a chance of taking this one over.

DJI 30: Short Term View (or) Day Chart (or) EOD with the Ichimoku Cloud:
DJI 30 - End of  Day Chart - 06 April 2012  
Last 5 Signals seen on DJI 30 - Day Chart (EOD) in brief: 

1. Senkou Span Cross: Neutral Bullish Signal

2. Tenkan Sen/Kijun Sen Cross: Strong Bullish Signal
3. Kijun Sen Cross: Weak  Bearish  Signal
4. Kumo Breakout: Bullish Signal
5. Chikou Span Cross: Strong Bullish Signal
In our study we also consider as important, the previous signals, summarized above.

B. The Chikou Span (Purple line) Crossed into the Price line and is still just above it.
C. We had Price crashing below the Kijun Sen (blue line). Price stayed below MVWAP and the red Tenkan Sen too, all week.
D. The Kumo breakout although named Bullish and Strong - saw the price retreat to close inside the Kumo.

Bears almost have this screen.