Saturday, August 18, 2012

The Dow Jones - Ichimoku Study - Week: 13 August to 17 August, 2012 - New 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 - 17 August, 2012 

Learning from the Past Week: (click here for the post)
Oscillator continues to tick up.
Index moves up on the strength of the Strong Bullish Cues seen.
Previous high is close, yet to be taken out.

Looking Forward into the next Week:
The negative 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.
Going into the (lucky?) seventh week - Bulls celebrate a rocking green run.