Saturday, July 7, 2012

The Dow Jones - Ichimoku Study - Week: 02 July to 06 July, 2012 - Bears force the Cross

.....Regulars can skip below and go straight to the chart......

Introduction / Preamble can be read at this link (click). 

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

Useful resources (free) from the Web:

Previous Signals seen on DJI 30 - Week Chart (EOW) as marked on chart below:

Kumo Breakout: Bullish Signal (B)
The Flat Kumo: Bearish Signal (Ko)
Tenkan Sen Cross: Weak Bearish Signal (Te)
The Kijun sen cross: Weak  Bearish  Signal (K)
The Kijun sen cross:  Strong Bullish Signal (K)
Tenkan Sen Cross:  Strong Bullish Signal (Te)
The Tenkan Sen/Kijun Sen Cross: Weak Bearish Signal (T)

  DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:   
DJI 30 - End of Week Chart - 06 July, 2012 

Learning from the Past Week: (Click)
We suggested in our study last week that we would have a Bearish Cross of the Kijun Sen and Tenkan Sen.
That is what we got, along with a red candle, last week.

Looking Forward into the next Week:
While the Bearish Cross of the Kijun Sen and Tenkan Sen is bad news for the Bulls, they are still in a good place.
Staying above the MVWAP 34 and the Kijun Sen - Bulls can reverse this cross.
Bears having smelt the bacon, would push for the Kumo again.