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Monday, January 27, 2014

BSE Sensex - Ichimoku Study - Elusive ATHs - Week 5 of January 2014.



BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 24 Jan'14



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

Learning from last Week: (click here for previous post)

Bulls hold above the Tenkan Sen and notch up another aborted ATH attempt #W2.
Senkou Span A & B - expands #W3.
Distance between Tenkan Sen and Kijun Sen also increases #W2

Wrap: Bulls stay above the Tenkan Sen but fail near the ATH #W2.





Looking Forward into this Week:


Chikou Span keeping above the Price Line critical for Bull moves #W1.
Bulls need to stay above the Tenkan Sen to remain in the game #W2.
Expansion of Tenkan Sen, Kijun Sen and the Senkou Span A & B indicative of Bull strength #W2 #W3.


Wrap: Bears look get the Index below the Tenkan Sen #W2. Bulls eye the elusive ATH