Monday, May 11, 2015

The Dow Jones - Ichimoku Study - Kijun Sen Support - Week 2 of May 2015.

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

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

Index finds support at the Kijun Sen and stays above the Tenkan Sen #W2.
Gap between the Tenkan Sen and Kijun Sen narrows further #W2 - one for the Bears.
Senoku Span A & B, gap narrow some more #W3 - one for the Bulls.

Wrap: Index above the Tenkan Sen, Thin Kumo holds the index below the ATH #W2.

Looking Forward into this Week:

Bears eye the Thin Kumo #W2 (Study Links herehere or elsewhere) for an opportunity to break into the Kumo.
Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist, even as their gap closes #W2.
Chikou Span at current altitude, can meet up with the price line in a couple of weeks #W1.

Wrap: Bulls look to make new ATHs, Bears eye the Thin Kumo to help bring the Index down #W2.