Saturday, February 16, 2013

The Dow Jones - Ichimoku Study - Week: 11 February to 15 February, 2013 - Stand off..

                             .....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 Kijun sen cross:  Strong Bullish Signal (K) 

The Tenkan Sen/Kijun Sen Cross:  Strong Bullish Signal (T)

Dow 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 15 Feb'13

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

Bulls and Bears stand off #2, after last week's, Bearish Harami, with a lower close !
The Chikou Span #1 dips again - still way above the price line.
The Oscillator #3 ticks up - divergence with Price continues.

Bears & Bull stand off for this week - Advantage Bears.

Looking Forward into the next Week:

Bears need the index back below the cluster of supports MVWAP 34, Kijun Sen and Tenkan Sen #2.
Bearish Divergence apparent on the Oscillator #3.

A lower close last week, has given the Bears hope of recrossing the red Tenkan Sen Line #2.