Monday, September 1, 2014

The Dow Jones - Ichimoku Study - Bulls on Second High - Week 1 of September 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 28 Aug'14

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

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

Saved by the Kijun Sen. Bulls clear the Tenkan Sen and reach the ATH #W2.

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

Wrap: Bulls bouncing off the Kijun Sen level up with the ATH #W2.

Looking Forward into this Week:

Keeping above the Tenkan Sen - Bulls look for new Highs again #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would continue to show direction going forward #W2.
ATH is stronger resistance on Bull's second visit #W1.

Wrap: Bulls want life above the ATH following the Chikou Span Deflection, Bears want to defend the ATH line again #W2.