Monday, November 4, 2013

BSE Sensex - Ichimoku Study - The Bear Line Up - Bulls, 7th time lucky - Week 1, November 2013.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 01 Nov'13

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

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

The Senkou Span A moves higher than Span B #W4 AND Tenkan Sen moves above Kijun Sen #W3 after 6 weeks stuck to each other. The 7th week turns Lucky for the Bulls.
Bears lose their last Line of defense and also control of the Medium Term Screen #W2.

Bulls make a new High #W2 and get two Strong Bullish Signals last week.

Looking Forward into the next Week:

The Bullish Senkou Span Cross #W4 and the Tenkan Sen - Kijun Sen Cross #W3 give the Bulls control of the Medium Term Screen.

Bears get unlucky in the 7th week. 
Chikou Span moves away relative to the Price Line - deflection or cross some time away #W1.

Bulls get to dominate the Medium Term.