Saturday, October 20, 2012

The Dow Jones - Ichimoku Study - Week: 15 October to 19 October, 2012. - Bulls Steady..

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

Introduction 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) marked on chart as per notes 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 - 19 October, 2012.

Learning from the Past Week: (click here for the post)
Chikou Span (a) - remains close to the price line.
The Oscillator ticks down, -ve divergence is persistent (c).
Support for index continues on the Tenkan Sen (b) like last week.

Looking Forward into the next Week:
The Chikou Span heading for the Price line (a) needs to be watched - bearish cross or deflection is on the cards.
Bulls again hold the Index on the Tenkan Sen, for the week (b) - take off from here is critical, as cross of this red line, is seen as an early indicator of trend change.