Saturday, September 8, 2012

The Dow Jones - Ichimoku Study - Week: 03 Sept to 07 Sept, 2012 - New High News !

                               .....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.

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:  Strong Bullish Signal (K)
Tenkan Sen Cross:  Strong Bullish Signal (Te)
The Tenkan Sen/Kijun Sen Cross:  Strong Bullish  Signal (T)

DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud: 
DJI 30 - End of Week Chart - 07 Sept, 2012 

Learning from the Past Week: (click here for the post)
As discussed the Bulls avoided a Bearish Chikou Span Cross (A) last week.
Taking support at the region of the Tenkan Sen and MVWAP 34 - the Index went back to test recent highs.
The Oscillator ticks down (B).

Looking Forward into the next Week:
The negative divergence, developing on the Oscillator - remains the key concern, for the Bulls.
Staying above the Tenkan Sen (B) - Bulls would try breaking the last high again.
Bears would need to break their nemesis, the MVWAP 34.
The position of the Kijun Sen and Tenkan Sen augers a bearish Cross, unless the Bulls make a move on.. upwards.