.....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.
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 - 20 August, 2012 |
Learning from the Past Week: (click here for the post)
Unlucky at the seventh weekly candle - Bulls see red after 6 green candles in a row.
The Bears hold the Bulls away from beating the previous high - which we continue to see as a strong resistance.
The Oscillator continues to tick up.
The Bears hold the Bulls away from beating the previous high - which we continue to see as a strong resistance.
The Oscillator continues to tick up.
Chikou Span (pink line) heads for a possible bearish cross of the Price line.
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.
Avoiding a Bearish Chikou Span cross - is critical for Bulls going forward.
