.....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:
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| DJI 30 - End of Week Chart - 07 Sept, 2012 |
Learning from the Past Week: (click here for the post)
As discussed the Bulls avoided a Bearish Chikou Span Cross (A) last week.
Taking support at the region of the Tenkan Sen and MVWAP 34 - the Index went back to test recent highs.
The Oscillator ticks down (B).
Taking support at the region of the Tenkan Sen and MVWAP 34 - the Index went back to test recent highs.
The Oscillator ticks down (B).
Looking Forward into the next Week:
The negative divergence, developing on the Oscillator - remains the key concern, for the Bulls.
Staying above the Tenkan Sen (B) - Bulls would try breaking the last high again.
Bears would need to break their nemesis, the MVWAP 34.
The position of the Kijun Sen and Tenkan Sen augers a bearish Cross, unless the Bulls make a move on.. upwards.
