Monday, May 19, 2014

The Dow Jones - Ichimoku Study - Tenkan Sen 4X - Week 4 of May 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 16 May'14

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

Learning from the earlier Study: (click here for the post)

Bulls try and manage another ATH #W2.

Price Line bounces off the Tenkan Sen intra-week for the 4th week #W2.
At present height, the Chikou span seen running bearishly into the Price Line #W1.

Wrap: Index takes support at Tenkan Sen - new ATH  #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 4 aborted attempts in 4 consecutive weeks #W2.