Monday, September 29, 2014

The Dow Jones - Ichimoku Study - Bulls hold Peak 2 - Week 1 of October 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 26 Sept'14

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

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

Bulls defend break-out from Peak 2 despite red week #W2.

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

Wrap: Bulls fall, but keep above Peak 1 #W2.

Looking Forward into this Week:

Keeping above the Tenkan Sen - Bulls look for new Highs #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would continue to show direction going forward #W2.
Previous High continues as strong support #W2.

Wrap: Bulls push for a higher highs, Bears seek to get below previous Highs #W2.