Monday, May 18, 2015

The Dow Jones - Ichimoku Study - Tenkan Sen Support - Week 3 of May 2015.

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

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

After the Index found support at the Kijun Sen previously, it takes off from the Tenkan Sen last week #W2.
Gap between the Tenkan Sen and Kijun Sen widens #W2 - advantage Bulls.
Senoku Span A & B, gap steady #W3.

Wrap: Index shoots above the Tenkan Sen, Bears hold it at the ATH.

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 #W2.
Chikou Span at current altitude, can meet up with the price line in a couple of months #W1.

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