Monday, February 10, 2014

The Dow Jones - Ichimoku Study - Kijun Sen holds again - Week 2 of February 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 07 Feb'14

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

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

Bulls get a green week after coming up from below to close above the Kijun Sen #W2.
Senoku Span A & B converge some more #W3.
Gap between the Tenkan Sen and Kijun Sen reduces further #W2.
Chikou Span kisses and bounces off the Price line #W1.

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

Looking Forward into this Week:

Convergence of Senoku Span A & B, and also Tenkan Sen & Kijun Sen, remains a concern for Bulls #W3.
Index hanging on above Kijun Sen two weeks in a row, gives the Bull hope of a retake of the Tenkan Sen #W2.
Chikou Span deflection of the Price line favors Bulls #W1.

Wrap: Bulls look to get above the Tenkan Sen - Bears anticipate a bearish cross of the Tenkan Sen and Kijun Sen soon #W2.