Sunday, November 4, 2012

The Dow Jones - Ichimoku Study -Week: 29 October to 02 November, 2012.. - Bears Hold it..

                               .....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 - 02 November, 2012

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

Chikou Span #a, which made a bearish cross, below the Price line last week, is on the verge of pulling above Price line.
The Oscillator ticks down #c  -ve divergence is persistent.
The MVWAP 34 #b holds up Bulls - Tenkan Sen resists them.

Looking Forward into the next Week:

Holding above the MVWAP 34 #b, Bulls are safe for now.
The Chikou Span's action #a next week, worth a watch, for Bearish Continuation or Bullish pull up.
Break of the Range #b between the Tenkan Sen and MVWAP 34 - signals the next trending move.