|Dow 30 - End of Week Chart (EOW) - Analyzing 24 Month's Data - as on 22 Nov'14|
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the earlier Study: (click here for the post)
Bulls after the kick off from the Kumo, get above the Tenkan Sen and Kijun Sen and make another ATH #W2.
Chikou Span deflection off the Price line had strengthened the Bull cause #W1.
Tenkan Sen and Kijun Sen still in Touch and rising together #W2.
Senoku Span A & B gap is narrow and rising #W3.
Wrap: Bulls bounce off the Kumo and use the Chikou Span deflection, to make it rain ATHs ! # W2. Bears lose the plot.
Looking Forward into this Week:
Bears aim for a journey back to the Kumo #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, is now in progress #W2.
Chikou Span staying above the Price line, is the current Bull ask #W1.
Bearish cross of the Senoku Span A-B is the Bear hope #W3.
Wrap: Bears hope to get back to the Kumo #W2 - Bulls see a Bullish Deflection of Tenkan Sen & Kijun Sen next - even if previous Highs are re-tested #W1.