Monday, January 27, 2014

The Dow Jones - Ichimoku Study - Tenkan Sen Cracks - Week 5 of January 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 24 Jan'14

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

Learning from last Week: (click here for previous post)

Bulls get hammered after holding off above the Tenkan Sen the previous week #W2.
Senoku Span A & B converge some more and head up #W3.
Gap between the Tenkan Sen and Kijun Sen steady #W2.
Chikou Span eyes the Price line #W1.

Wrap: Bulls lose plot and crash through the Tenkan Sen #W2.

Looking Forward into this Week:

Convergence of Senoku Span A & B, remains a concern for Bulls #W3.
Gap between the Tenkan Sen and Kijun Sen steadies, widening gap would give the Bulls some relief #W2.
Critical for Bulls to stay above Kijun Sen and retake Tenkan Sen #W2.
Chikou Span deflection or cross of the Price line to be watched #W1.

Wrap: Bulls look to keep above the Kijun Sen while Bears pray the Tenkan Sen is strong resistance for the Index #W2.