Monday, September 15, 2014

The Dow Jones - Ichimoku Study - Bears defend Peak 2 - Week 3 of September 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 12 Sept'14

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

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

Bears defend Peak 2 with a red week #W2.

Gap between Tenkan Sen - Kijun Sen flat and narrow #W2.
Gap between  Senoku Span A-B flat #W3.

Wrap: Bulls repulsed at Peak 2 #W2.

Looking Forward into this Week:

Keeping above the Tenkan Sen - Bulls look for new Highs #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would continue to show direction going forward #W2.
Previous Highs are a strong resistance #W1.

Wrap: Bulls push for a breakout from these levels, Bears continue to dig-in & defend the ATH zone, for the second time #W2.