Monday, December 1, 2014

The Dow Jones - Ichimoku Study - Pause ? - Week 4 of November 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 28 Nov'14

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

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

Bulls after the kick off from the Kumo, get above the Tenkan Sen and Kijun Sen and make it rain ATHs #W2.

Chikou Span momentum slows #W1.
Tenkan Sen and Kijun Sen still in Touch and they level out #W2.
Senoku Span A & B gap is flat #W3.

Wrap: Bulls bounced off the Kumo and used the Chikou Span deflection, to make it rain ATHs, as momentum slows # W2. Bears look to get back in the game.

Looking Forward into this Week:

Bears aim for a journey back to the Kumo, starting with a move to below the Tenkan Sen #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, is now in progress #W2.
Chikou Span dipping towards the Price line is the Bear ask #W1.
Bulls demand a deflection of the Tenkan Sen to above the Kijun Sen #W2.

Wrap: Bears look to move below the Tenkan Sen #W2 - Bulls see a Bullish Deflection of Tenkan Sen & Kijun Sen next #W1.