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Monday, April 28, 2014

The Dow Jones - Ichimoku Study - Tenkan Sen Hold - Week 1 of May 2014.



Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 25 Apr'14



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



Learning from the earlier Study: (click here for the post)

Bull - Bear stand-off  continues around the ATH #W2.

Price Line bounces off the Tenkan Sen intra-week #W2.
At present height, the Chikou span seen running bearishly into the Price Line #W1.


Wrap: Index takes support at Tenkan Sen - broad ranging continues all 2014  #W2.




Looking Forward into this Week:


Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would show direction going forward before Price line gets too close to the Kumo $W2.
Bulls wary of the Chikou span bearishly crossing the Price line #W1.


Wrap: Bulls look to break above this range #W2, Bears shoot to get below the Tenkan Sen #W2.