Monday, August 11, 2014

The Dow Jones - Ichimoku Study - Kijun Sen Save - Week 2 of August 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 08 Aug'14

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

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

After Index dives below the Tenkan Sen, Kijun Sen Holds up the Bulls #W2.

Gap between Tenkan Sen - Kijun Sen decreases further #W2.
Gap between  Senoku Span A-B increases #W3.
Chikou Span deflects off the Price line neatly #W1.

Wrap: Kijun Sen arrests the Index fall and saves the Bulls #W2.

Looking Forward into this Week:

Keeping below the Tenkan Sen - Bears target the Kijun Sen again #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would continue to show direction going forward #W2.
Chikou span deflecting off the Price line, augers well for Bulls #W1.

Wrap: Bulls want life above the Tenkan Sen following the Chikou Span Deflection, Bears want to close this week below the Kijun Sen #W2.