|Dow 30 - End of Week Chart (EOW) - Analyzing 24 Month's Data - as on 23 May'14|
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the earlier Study: (click here for the post)
Bulls resisted at ATH #W2.
Price Line bounces off the Tenkan Sen intra-week for the 5th week #W2.
At present height, the Chikou span seen running bearishly into the Price Line #W1.
Wrap: Index takes support at Tenkan Sen - new ATH holds #W2.
Looking Forward into this Week:
Keeping above the Tenkan Sen - Bulls have hopes of a new ATH #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would continue to show direction going forward #W2.
Bulls wary of the Chikou span bearishly crossing the Price line #W1.
Wrap: Bulls look to break and close above this range #W2, Bears hope to get below the Tenkan Sen after 5 aborted attempts in 5 consecutive weeks #W2.