Monday, December 2, 2013

The Dow Jones - Ichimoku Study - Shooting for the Stars - Week 1 of December 2013.

Dow 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 29 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 to new All Time High (ATH) and shoot for the stars  #W2.
Senoku Span A & B continue converging #W3.
Gap between the Tenkan Sen and Kijun Sen narrow even as both turn up #W2.

Wrap: Bulls shoot for the Stars and get another ATH.

Looking Forward into the next Week:

Bulls keep index above Kijun Sen, Chikou Span flat  #W1.
Narrowing gap between the Senkou Span A&B (Thicker Kumo = stronger resistance) a small consolation for Bears #W3. 
Gap between the Tenkan Sen and Kijun Sen narrow - cross helps Bear cause #W2.

Wrap: Bulls look to maintain momentum and stay with the stars while Bears pray the Tenkan Sen slips below the Kijun Sen soon #W2.