Saturday, September 15, 2012

The Dow Jones - Ichimoku Study - Week: 10 Sept to 14 Sept, 2012 - Next High : 2008's..

                               .....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 - 10 Sept, 2012 

Learning from the Past Week: (click here for the post)
Staying above the Tenkan Sen - Bulls did break the last high as anticipated.
Bulls avoided a Bearish Chikou Span Cross (b) last week - the resultant deflection produced a good run, just as it did earlier (a).
The Oscillator ticks up (c), divergence is persistent.

Looking Forward into the next Week:
The negative divergence, developing on the Oscillator - remains the drag, for the Bulls.
Chikou Span staying above the price - Bulls can look at the 2008 highs next.
Bears would need to break their nemesis, the MVWAP 34 on the downside.
The position of the Kijun Sen and Tenkan Sen continues to auger a bearish Cross, unless the Bulls keep the momentum.. up.