Saturday, January 19, 2013

The Dow Jones - Ichimoku Study - Week: 14 January to 18 January, 2013 - Bulls catch last High..

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

The Tenkan Sen/Kijun Sen Cross:  Strong Bullish Signal (T)

Dow 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 18 Jan '13

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

Bullish 'Kijun Sen/Tenkan Sen' Cross happens #1..
The Senkou Spans A & B diverge away from each other - some more. 
The Oscillator ticks up - divergence with Price persists.

Bulls reach previous / last major Highs.

Looking Forward into the next Week:

A Senkou Span Cross - if it happens from this position - is still bad news for the Bulls.
Bears need the index back below the cluster of supports MVWAP 34, Kijun Sen and Tenkan Sen #1.
A serious Bearish Divergence is developing on the Oscillator #2.

As Bulls rule the Highs, bears pin hopes on recross of the fast rising Tenkan Sen (red line) and divergence #2.