Saturday, August 11, 2012

The Dow Jones - Ichimoku Study - Week: 06 August to 10 August, 2012 - Old Highs

                                .....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.

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)
The Kijun sen cross:  Strong Bullish Signal (K)
Tenkan Sen Cross:  Strong Bullish Signal (Te)
The Tenkan Sen/Kijun Sen Cross:  Strong Bullish  Signal (T)

DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud: 
DJI 30 - End of Week Chart - 10 August, 2012 

Learning from the Past Week: (click here for the post)
A steeper rate of climb from the Bulls produced a Bullish Tenkan Sen - Kijun Sen Cross.
Oscillator continues to tick up.

Looking Forward into the next Week:
The preposterous quantum of divergence, developing on the Oscillator - remains a concern, for the Bulls.
Keeping above the Tenkan Sen - Bulls, next look at, taking out the previous high - a strong resistance.
As of now - Bulls rule!