Saturday, July 28, 2012

The Dow Jones - Ichimoku Study - Week: 23 July to 27 July, 2012 - Bulls Comeback

                                .....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 - 27 July, 2012 

Learning from the Past Week: (Click)
Another repeat performance from the Bulls - defying the last Bearish Signal - took support on the MVWAP 34 and the Kijun Seen.
Chikou Span (pink line) produced a deflection with the price line - helping the Bulls comeback, in what was one of the widest ranges among recent weeks.

Looking Forward into the next Week:
A take off from here would justify the Bulls resilience of recent times.
This would also produce the Green 'T' signal on the chart, as discussed week before.
Next week, Bears have a last chance of moving down on the last bearish 'T' we saw on the chart.