Saturday, December 8, 2012

The Dow Jones - Ichimoku Study - 03 December to 07 December, 2012 - Blue Red Bother

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

Tenkan Sen Cross:  Strong Bullish Signal (Te)  

DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud
DJI 30 - End of Week Chart - 07 December, 2012

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

Range of the last week, the space above the Kumo and below the Tenkan Sen #1, gets broken.
The Bulls get the Chikou Span Cross (Cc), Kijun Sen Cross (K) and now the Tenkan Sen (Te) Cross - three bullish signals, all strong ones.
The Senkou Span convergence, we saw last week, does not progress.
The Oscillator ticks up while still in the negative #2.
Threat of a Bearish - 'Kijun Sen (blue line) - Tenkan Sen' (red line) Cross soon #1.

Looking Forward into the next Week:

Senoku Span Cross - if it happens from this position - is bad news for the Bulls.
Bears look forward to a bearish Kijun Sen - Tenkan Sen Cross - and life inside the Kumo.
Bulls would want to capitalize on the last three Strong Bullish signals - to charge up.

The Blue Line (Kijun Sen) and Red Line (Tenkan Sen) Crossing, could result in some Consolidation - offsetting the recent 3, strong Bullish Signals seen.