Saturday, October 27, 2012

The Dow Jones - Ichimoku Study - Week: 22 October to 26 October, 2012. - Bears Strike one...

                               .....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

The Flat Kumo: Bearish Signal (Ko)
The Kijun sen cross:  Strong Bullish Signal (K)
The Tenkan Sen/Kijun Sen Cross:  Strong Bullish  Signal (T)
Tenkan Sen Cross:  Weak Bearish Signal (Te)
The Chikou Span Cross:  Weak Bearish Signal (cC)  

DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud 
DJI 30 - End of Week Chart - 26 October, 2012.

Learning from the Past Week: (click here for the post)

Chikou Span (1) - makes a bearish cross - we studied the possibility last week.
The Oscillator ticks down (3), -ve divergence is persistent.
The Tenkan Sen fails the Bulls and Index dives to the MVWAP 34 (2).

Looking Forward into the next Week:

With the Bears striking one barrier (Tenkan San) Down (2) - the Bull advantage is neutral now.
The Chikou Span Cross (1) - adds to Bull troubles.
A follow-up red candle is needed to give the advantage to Bears - one closing below the MVWAP 34.