Saturday, August 3, 2013

BSE Sensex - Ichimoku Study - Week: 29 July to 02 August - 2013 - Bears at Kumo again

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 02 Aug'13

Introduction / Primer to Ichimoku, can be read at this link (click). 

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

Flat Kumo #3 rewards the Bears again.
Gap between the Tenkan Sen & Kijun Sen narrow but steady #2.
Index falls below the Tenkan Sen, Kijun Sen and ends in the Kumo  #2.
Chikou Span slips further below the price line #1.

3 Bearish Signals as seen on the screen above, all in the last week #2.

Looking Forward into the next Week:

Bulls unable to move the Chikou Span above the Price Line as downward momentum does not slacken a wee bit #1.
Gap between the Tenkan Sen - Kijun Sen narrow but steady - Bearish Cross or Bullish Deflection possible #2.
Flat Senoku Span B can attract the Price line towards it. #3.

Bulls look to bounce out of the Kumo - Bears remain attracted to the Flat Senoku Span B - #3 ...