Saturday, May 26, 2012

The Dow Jones - Ichimoku Study - Week: 21 May to 25 May, 2012 - Kijun Holds..

                             .....Regulars can skip below and go straight to the chart......

Introduction / Preamble can be read at this link (click).

Quick Reference : 
Chikou Span - pink line,
Kijun Sen - blue line, 
Senkou Span A - black line, 
Senkou Span B - grey line, 
Kumo - grey shaded area,
Tenkan Sen - red line.

Useful resources (free) from the Web:

Previous 5 Signals seen on DJI 30 - Week Chart (EOW) as on chart below:

1. Chikou Span Cross: Strong Bullish Signal (C)
2. Tenkan Sen/Kijun Sen Cross: Neutral Bullish Signal (T)
3. Kumo Breakout: Bullish Signal (B)
4. The Flat Kumo: Bearish Signal (Ko)
5Tenkan Sen Cross: Weak Bearish Signal (red line)

    DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:  
DJI 30 - End of Week Chart - 25 May 2012  

This week we had a Green candle as seen in the chart above.
As concluded last week - the Kijun Sen (Blue line) - gave the Bulls Support.
Bulls however did not reach the Tenkan Sen (Red line) their first point of strength.
Oscillator continues to tick down.

Index, keeping above the Kijun Sen, will keep this screen in neutral zone.
Price below the Tenkan Sen,  the trend remains with the Bears.
First sign of reversal is seen when the Bulls breach the Tenkan Sen.
We shall watch for that.