Monday, July 7, 2014

The Dow Jones - Ichimoku Study - Tenkan Sen Bounce - Week 2 of July 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 03 July'14

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

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

Bulls take off from support near Tenkan Sen to make a new ATH #W2.

Gap between Tenkan Sen - Kijun Sen steady #W2.
Gap between  Senoku Span A-B steady #W3.

Wrap: Bulls bounce away from near the Tenkan Sen to make a new ATH  #W2.

Looking Forward into this Week:

Keeping above the Tenkan Sen - Bulls look at new ATHs #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 make new ATHs above the Tenkan Sen, Bears want life below the Tenkan Sen #W2.