.....Regulars can skip below and go straight to the chart......
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 Signals seen on DJI 30 - Week Chart (EOW) as marked on chart below:
Kumo Breakout: Bullish Signal (B)
The Flat Kumo: Bearish Signal (Ko)
Tenkan Sen Cross: Weak Bearish Signal (Te)
The Kijun sen cross: Weak Bearish Signal (K)
The Kijun sen cross:
Strong Bullish Signal (K)
DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
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| DJI 30 - End of Week Chart - 08 June, 2012 |
Learning from the Past Week:
Last week (click) we concluded that the Bearish 'Tenkan Sen - Kijun Sen' Cross would be on, unless the Bulls took the index up fast.
We also pointed out that, the Flat Kumo was ending soon (so would its gravitational pull).
We have a solid green candle this week, MVWAP 34 is breached.
The Bulls took the index up and made a Strong Bullish Kijun Sen Cross. 1
Chikou Span has deflected off the Price line - a Bullish note.3
The Oscillator has ticked into minus.2
Bearish 'Tenkan Sen - Kijun Cross' looks possible, despite last week's action - Bulls need to do more.
Looking Forward into the Next Week:
Keeping above the MVWAP 34 and the Kijun Sen - the Bulls would look at pulling out of the downward spiral they got into.
