Saturday, March 31, 2012

The Dow 30 - Ichimoku Study - Week: 26 March to 30 March 2012

Quick Reference : 
The Tenkan Sen - red line
The Kijun Sen - blue line
The Chikou Span - purple line
The Senkou Span A - black line
The Senkou Span B - grey line
The Kumo - grey shaded area.

Signals studied in the past few weeks on DJI - Week Chart (EOW) in brief: For details see here and here.

Senkou Span Cross: Neutral Bullish Signal
Chikou Span Cross: Strong Bullish Signal
Tenkan Sen/Kijun Sen Cross: Neutral Bullish Signal
Kumo Breakout: Bullish Signal
The Flat Kumo: Bearish Signal

DJI 30 - End of Week Chart - 30 March 2012  
Ichimoku Medium Term View (or) Week Chart (or) EOW of the DJI 30:
We have summarized the studies of the past few weeks, on the EOW and its shown, above the chart.
Th Index is in Bull Mode.
This weeks input, seems to be, that the last three candles, show a flat trajectory. 
The Tenkan San is flat as is the Kijun Sen.
The coming week however, should see some action..
To get a finer picture, we have added a EOD study as below...

DJI 30 - End of Day Chart - 30 March 2012  
Ichimoku Short Term View (or) Day Chart (or) EOD of the DJI 30:
The Index was in Bull Mode on this chart. The last two candles show that.... 
a) the Price line has taken support on the Kijun Sen (and MVWAP) and 
b) crossed the Tenkan Sen. 
This continues the Mode as Bullish. 
On the flip side are the obvious divergences on the Oscillator.

S&P 500 - Triple Screen 'Technical Analysis' - Week: 26 March to 30 March, 2012 - Déjà vu !

The Bulls moved the index up last week, keeping the momentum with them. The Bears, while finishing the week with their last straw in hand, did lose out on the third Bearish Harami in the last two years (see EOW). To answer the question asked last weekend (click here to go to post), Bulls say, Déjà vu !

S&P 500 - End of  Month Chart (EOM) - 30 March 2012  
Long Term View (or) Month Chart with closing prices of each month in a line (or) EOM:
1,456 is the SP 500 reading that should take out the Channel's red Top line in April. Going by the current state of health, this chart looks good for that.

S&P 500 - End of  Week Chart (EOW) - 30 March 2012 
Medium Term View (or) Week Chart, each candle is 1 Week's price action (or) EOW:
We saw that the third time in a row the Bulls bought into the Bearish Harami on the chart above. The 5 EMA acted as take off point for Bulls this week. The RSI being just below the 3 MA, is the only saving grace for the Bears, their straw in hand, as they go into next week and month. 

S&P 500 - End of  Day Chart (EOD) - 30 March  2012  
Short Term View (or) Day Chart, each candle is 1 Day's price action (or) EOD:
SP 500 ended above all the short term MAs, that we study, as above. The Index edged down, and closed below our yellow day Channel's middle line. Rate of climb, is therefore a tad down.

Looking Forward: 
The Bears would seek to press home their mild advantages, as studied in the EOW and EOD. The Bulls are on a roll, and only getting knocked below the Yellow Day channel, would put them in a spot of bother. So one watches the short term MAs - EMA 5, EMA 10 and SMA 13 with a careful eye in the coming week.