Saturday, September 29, 2012

The Dow Jones - Ichimoku Study - Week: 24 Sept to 28 Sept, 2012 - Bears nudge ahead

                               .....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 - 28 Sept, 2012 

Learning from the Past Week: (click here for the post)
The Negative divergence kicks in with another red candle - and now a Bearish three inside down(2).
Chikou Span - flattens and dives at the price line (1).
The Oscillator ticks up, -ve divergence is persistent.

Looking Forward into the next Week:
Chikou Span diving below the Price - Bears seek life below MVWAP 34,
Chikou Span staying above the Price - Bulls can look at the 2008 highs next.
The position of the Kijun Sen and Tenkan Sen continues to auger a bearish Cross, unless the Bulls get going.