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Friday, April 6, 2012

The BSE 30 - Ichimoku Study - Week: 02 April to 06 April 2012 - Bulls stay in..

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.

Useful resources (free) from the Web:


BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
The BSE Sensex 30 - End of Week Chart - 02 to 06 April 2012  
Last 6 Signals seen on BSE 30 - Week Chart (EOW) in brief: For details see here and here :
1. Senkou Span Cross: Strong Bearish Signal
2. Chikou Span Cross: Weak Bullish Signal
3. The Kijun sen cross: Weak Bullish Signal
4. The Flat Kumo: Bullish Signal
5. The Tenkan Sen/Kijun Sen Cross: Weak Bullish Signal
6. The Kumo Breakout: Bearish Signal
In our study, we consider as important, the signals of the previous posts, summarized above.

Here are what, the above medium term chart, tells us this week.
A. This week's green candle was resisted at the Tenkan Sen (red line) - breaching this line is a preliminary signal of trend reversal in the medium term.
B. The candle was completely within the Kumo - neutral zone. Last week it took support on the Kijun Sen and MVWAP. Strength to Bulls.
C. The Senkou Span A&B (black and grey lines) look like they may cross soon. If the price at the time of Cross is still within the Kumo, this cross would be neutral.

In a screen which was all Bear, couple of weeks ago, we have the Bulls with their noses firmly in, so far as the medium term view goes.



BSE 30: Short Term View (or) Day Chart (or) EOD with the Ichimoku Cloud:

The BSE Sensex 30 - End of  Day Chart - 02 to 06 April 2012  

Last 5 Signals seen on BSE 30 - Day Chart (EOD) in brief: 
1. Kumo Breakout: Strong Bullish Signal
2. Tenkan Sen/Kijun Sen Cross: Weak  Bearish Signal
3. Chikou Span Cross: Weak Bearish Signal
4. Senkou Span Cross: Neutral Bullish Signal
5. Kijun Sen Cross: Neutral Bullish Signal
In our study we also consider as important, the previous signals, summarized above.

As anticipated last week (click for post) we had an up move after the Senkou Span Cross was found 'not bearish' but neutral. The other points of interest for the week are...
D. The Chikou Span (purple) is interestingly poised for another go at the price line.
E.  Price which breached the Tenkan Sen (red line) last week, did move up after that.
F. The Senkou Span (Black and grey lines) Cross that we got, was Neutral, as the price was inside the Kumo last week.
G. The Kijun Sen (blue line) Cross, also turned out to be neutral, for the same reason.
I: Price is resisted once again at the Moving VWAP.

Bulls and Bears are well matched, in the short term based on last week's action, a slim bias, favors the Bulls.

The Dow 30 - Ichimoku Study - Week: 02 April to 06 April 2012 - Bears get a toehold..


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.


Useful resources (free) from the Web:
http://www.freestockcharts.com/
http://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page


DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
DJI 30 - End of Week Chart - 06 April 2012  

Last 5 Signals seen on DJI 30 - Week Chart (EOW) in brief: For details see here and here :
1. Senkou Span Cross: Neutral Bullish Signal
2. Chikou Span Cross: Strong Bullish Signal
3. Tenkan Sen/Kijun Sen Cross: Neutral Bullish Signal
4. Kumo Breakout: Bullish Signal
5. The Flat Kumo: Bearish Signal
In our study, we consider as important, the signals of the previous posts, summarized above.


The inputs we get from the medium term view this week are..
A. Last week's candle took support on the Tenkan Sen (red line) - breaching this line would be the first indication of trend change from medium term view.
B. The Kijun Sen (Blue line) has started a sharp up move towards the price line.
C. The Chikou Span (Purple line) has started dipping towards the Kumo.


Bulls are still in dominance, from a medium term perspective.


DJI 30: Short Term View (or) Day Chart (or) EOD with the Ichimoku Cloud:
DJI 30 - End of  Day Chart - 06 April 2012  

Last 5 Signals seen on DJI 30 - Day Chart (EOD) in brief: 
1. Kumo Breakout: Strong Bullish Signal
2. Flat kumo: Bearish Signal
3. Tenkan Sen/Kijun Sen Cross: Strong Bullish Signal
4. Chikou Span Cross: Strong Bullish Signal
5. Kijun Sen Cross: Strong Bullish Signal
In our study we also consider as important, the previous signals, summarized above.


Do notice, that the 34 period Moving VWAP, is now in dotted Blue, and that the Price has dipped below it. This week's inputs...
D. The Chikou Span (purple line) is just about touching the price.
E. Price has crossed below the Tenkan Sen (red line) - indicating possible trend change to bearish in the short term.
F: Price has closed just above the Kijun Sen (blue).
G: Divergences on the Oscillator indicate weakness, however the oscillator hangs well above zero.


Bears have gained a toehold, in last week's action, in the short term view.