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Monday, May 4, 2015

The Dow Jones - Ichimoku Study - Thin Kumo Drags - Week 1 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 stays above the Tenkan Sen after Bulls manage a last day pull back #W2.
Gap between the Tenkan Sen and Kijun Sen narrows further #W2 - one for the Bears.
Senoku Span A & B, gap narrow widens some more #W3 - one for the Bulls.

Wrap: Index just above the Tenkan Sen, Thin Kumo and its drag on the index shows #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 Agenda, 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.