Monday, November 4, 2013

The Dow Jones - Ichimoku Study - Bull Peak again - Week 1, November 2013.

Dow 30 - End of  Week Chart (EOW) - Analyzing 18 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)

Bulls get higher and level up to previous peaks #W2.
Chikou Span still around the Price line #W1.
Gap between the Tenkan Sen and Kijun Sen narrow and steady #W2.

Bulls keep the advantage.. 

Looking Forward into the next Week:

Bulls keep index above Kijun Sen, but to retain advantage they need momentum #W2.
Chikou Span's distance to Price line reduces - to be watched for cross or deflection #W1.  
Widening gap between the Senkou Span A&B (Thicker Kumo = stronger resistance) is a concern for Bears #W3. 
Narrowing gap between the Tenkan Sen and Kijun Sen should worry the Bulls #W2.

Bulls look for momentum to rise above previous peaks while Bears pray the Tenkan Sen slips below the Kijun Sen #W2.