Monday, October 28, 2013

The Dow Jones - Ichimoku Study - Bull Continuation :- Week: 14 October to 18 October, 2013.

Dow 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 25 Oct'13

Introduction / Primer to Ichimoku can be read at this link (click). 

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

Bulls get higher above the Kijun Sen & Tenkan Sen #2.
Chikou Span still around the Price line #1.
Gap between the Tenkan Sen and Kijun Sen narrows further #2.

Bulls keep the advantage.. 

Looking Forward into the next Week:

Bulls keep index above Kijun Sen, and retain the advantage #2.
Chikou Span's distance to Price line important - to be watched for cross or deflection #1.  
Widening gap between the Senkou Span A&B (Thicker Kumo = stronger resistance) is a concern for Bears #3. 
Narrowing gap between the Tenkan Sen and Kijun Sen should worry the Bulls #2.

Bulls need to stay above the Tenkan Sen while Bears pray the Tenkan Sen slips below the Kijun Sen #2.