Monday, October 6, 2014

The Dow Jones - Ichimoku Study - Kijun Sen Holds - Week 2 of October 2014.

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

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

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

Bears force break-down from Peak 2 - Bulls come back to hold old Highs #W2.

Gap between Tenkan Sen - Kijun Sen same #W2.
Gap between  Senoku Span A-B same #W3.
Kijun Sen Stops the Bears exactly #W1.

Wrap: Index falls, but stays above Kijun Sen #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 Peak continues as critical level #W2.

Wrap: Bears seek to hold lower levels - Bulls look to use the momentum from this bounce to clear previous ATH #W2.