Monday, February 3, 2014

The Dow Jones - Ichimoku Study - Kijun Sen Support - Week 1 of February 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 31 Jan'14

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

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

Bulls go red again, after slipping below the Tenkan Sen last week #W2.
Senoku Span A & B converge some more #W3.
Gap between the Tenkan Sen and Kijun Sen reduces #W2.
Chikou Span kisses the Price line #W1.

Wrap: Bulls get support at the Kijun Sen #W2.

Looking Forward into this Week:

Convergence of Senoku Span A & B, remains a concern for Bulls #W3.
Tenkan Sen and Kijun Sen also converge, divergence would give the Bulls some relief #W2.
Bulls staying above Kijun Sen gives hope of a retake of the Tenkan Sen #W2.
Chikou Span deflection or cross of the Price line to be watched #W1.

Wrap: Bulls look to keep above the Kijun Sen while Bears pray the Tenkan Sen is strong resistance for the Index #W2.