Monday, September 15, 2014

BSE Sensex - Ichimoku Study - Bear Visit - Week 3 of September 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 12 Sept'14

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

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

Bulls keep above the Tenkan Sen and make a new ATH, Bears drive index right back #W2.
Senkou Span A & B - gap steady #W3.
Tenkan Sen and Kijun Sen gap even #W2

Wrap: Bulls fail to hold on to new gains as Bears get back lost ground 

Looking Forward into this Week:

A Bearish Chikou Span cross with Price line, at current altitude, will need 3 to 4 months #W1.
Bulls need to hold above the Tenkan Sen #W2.
Senkou Span A & B - converging is good for Bears #W3.

Wrap: Bears look to get t
he index below the Tenkan Sen, Bull focus is to keep above the Tenkan Sen to make new ATHs #W2.