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| Dow 30 - End of Week Chart (EOW) - Analyzing 24 Month's Data - as on 09 May'14 |
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the earlier Study: (click here for the post)
Bull end week at All time closing High #W2.
Price Line bounces off the Tenkan Sen intra-week once again #W2.
At present height, the Chikou span seen running bearishly into the Price Line #W1.
Wrap: Index takes support at Tenkan Sen - new closing high (weekly) #W2.
Looking Forward into this Week:
Keeping above the Tenkan Sen - Bulls have hopes of a new ATH #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would show direction going forward #W2.
Bulls wary of the Chikou span bearishly crossing the Price line #W1.
Wrap: Bulls look to break and close above this range #W2, Bears hope to get below the Tenkan Sen after 3 aborted attempts in 3 consecutive weeks #W2.
