Monday, March 10, 2014

The Dow Jones - Ichimoku Study - Old Highs - Week 2 of March 2014.

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

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

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

Bulls edge up above the Tenkan Sen to near Old Highs  #W2.

Senoku Span A & B gap contracts drastically #W3.
Gap between the Tenkan Sen and Kijun Sen flat and steady #W2.

Wrap: Index nears Old Highs #W2.

Looking Forward into this Week:

Senoku Span A & B - gap contracting is good for the bears #W3.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would show direction going forward $W2.
Bulls benefit if the Chikou span makes new Highs #W1.

Wrap: Bulls want the Tenkan Sen and Kijun Sen staying apart #W2, Bears wish for a Senoku Span Cross #W3.