Monday, November 18, 2013

The Dow Jones - Ichimoku Study - Bulls Rise High - Week 3 of November 2013.

Dow 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 15 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 rise well above previous peaks #W2.
Chikou Span soars away from Price line #W1.
Gap between the Tenkan Sen and Kijun Sen narrow even as both turn up #W2.

Wrap: Bulls get new Highs.. 

Looking Forward into the next Week:

Bulls keep index above Kijun Sen, and have gained momentum #W2.
Chikou Span's distance to Price wide - still to be watched for cross or deflection #W1.  
Wide 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 narrow - cross helps Bear cause #W2.

Wrap: Bulls look to maintain momentum to stay above previous peaks while Bears pray the Tenkan Sen slips below the Kijun Sen soon #W2.