Saturday, July 21, 2012

The Dow Jones - Ichimoku Study - Week: 16 July to 20 July, 2012 - Bulls Hold Steady

                                .....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)
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 - 20 July, 2012 

Learning from the Past Week: (Click)
A repeat performance from the Bulls - defying the last Bearish Signal - took support on the MVWAP 34 and the Kijun Seen.
Chikou Span (pink line) needs to be watched as it looks like it can cross the price line anytime.

Looking Forward into the next Week:
With the Oscillator making insipid noises - bears look like they may break in after all.
Holding above the supports of the past two weeks - should keep the Bulls safe.
The Chikou Span action - Bearish Cross or Bullish Deflection - should be worth watching intra week.