Sunday, November 25, 2012

The Dow Jones - Ichimoku Study - Week: 19 November to 23 November, 2012 - Cloud Hold

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

The Kijun sen cross:  Strong Bullish Signal (K)  

DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud 
DJI 30 - End of Week Chart - 23 November, 2012

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

As expected the Bulls do a comeback from above the Kumo #2
The Kijun Sen Cross #2, is a strong Bullish signal as it occurs above the Kumo.
The Oscillator ticks down to negative #3  Negative divergence is persistent.

Looking Forward into the next Week:

The MVWAP 34 and the Tenkan Sen #2 seem to hold off the Bull comeback.
If a bearish cross of the Kijun Sen and Tenkan Sen #2, happens in the next few weeks, Bears would be back.
Range for now, is the space above the Kumo and below the Tenkan Sen #2.