Monday, November 11, 2013

The Dow Jones - Ichimoku Study - Bulls Peak again - Week 2 of November 2013.

Dow 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 11 Nov'13

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

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

Bulls get higher and nudge ahead of previous peaks #W2.
Chikou Span still around the Price line #W1.
Gap between the Tenkan Sen and Kijun Sen narrow and increasing #W2.

Wrap: Bulls keep the advantage.. 

Looking Forward into the next Week:

Bulls keep index above Kijun Sen, and have gained some momentum #W2.
Chikou Span's distance to Price line low - to be watched for cross or deflection #W1.  
Widening gap between the Senkou Span A&B (Thicker Kumo = stronger resistance) is a concern for Bears #W3. 
Gap between the Tenkan Sen and Kijun Sen increasing - disadvantage Bears #W2.

Wrap: Bulls look for more momentum to rise above previous peaks while Bears pray the Tenkan Sen slips below the Kijun Sen #W2.