TO READ THIS WEEK's POST CLICK HERE...

Monday, June 29, 2015

The Dow Jones - Ichimoku Study - Chikou Span Slip - Week 1 of July 2015.






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


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

Index bounces off from support at the Kijun Sen but gets sent back at the Tenkan Sen once more #W1.
Gap between the Tenkan Sen and Kijun Sen steady #W2.
Senoku Span A & B, gap increases #W3.
Chikou Span slips below the Price line #W1.

Wrap: Index takes support at the Kijun Sen, Chikou span slips below the Price line #W1.



Looking Forward into this Week:


Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
Chikou Span slips below the Price line, however, Bears would have to make a steep dive now to keep it that way (3 red candles after the Slip) #W1.


Wrap: Bulls look to stay above the Kijun Sen and aim for the All Time High, Bears want to work at keeping the Bearish Cross of the Chikou Span and the Price line #W2.