Monday, October 13, 2014

The Dow Jones - Ichimoku Study - Kijun Sen Folds - Week 3 of October 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 10 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 manage to hold previous lows #W2.

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

Wrap: Index falls and closes below Kijun Sen, after 50 odd weeks #W2.

Looking Forward into this Week:

Keeping below the Tenkan Sen - Bears aim for the Kumo #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would continue to show direction going forward #W2.
Chikou Span bouncing off the Price line, is the next Bull hope #W1.

Wrap: Bears seek reach the Kumo #W2 - Bulls hope the Chikou Span would bounce off the Price line #W1.