Saturday, December 29, 2012

The Dow Jones - Ichimoku Study - 24 December to 28 December, 2012 - Advantage Bears

                             .....Regulars can skip below and go straight to the chart......

Introduction 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) marked on chart as per notes below

The Kumo Breakout: Strong Bullish  Signal (B)
The Flat Kumo: Bearish Signal (Ko)
The Chikou Span Cross:  Strong Bullish Signal (cC)  
Tenkan Sen Cross:  Strong Bullish Signal (Te)  
The Tenkan Sen/Kijun Sen Cross:  Weak Bearish  Signal (T)

The Kijun sen cross:  Weak Bearish  Signal (K)

Dow 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 28 December, 2012

Learning from the Past Week: (click here for the post)

Bearish Kijun Sen Cross happens as anticipated last week #2.
Bears bring the index below the MVWAP 34 also, reducing the Bull's advantage considerably #2.
Bulls defend the Tenkan Sen #2. 
The Oscillator ticks down #4.
Chikou Span close to price line #1.

The Tenkan Sen/ Kijun Sen Cross of last week coupled with the Kijun sen Cross this week - gives the Bears the advantage.

Looking Forward into the next Week:

A Senkou Span Cross #3 - if it happens from this position - is more bad news for the Bulls.
Bulls keep the index above the Tekan Sen#2. 
A Bearish Chikou Span Cross at this stage, would catalyze a dive into the Kumo #1.
Range is between the Kijun Sen and the Kumo  #2.

Holding the Tenkan Sen is critical for Bulls - Ranging as above continues.