Monday, March 16, 2015

The Dow Jones - Ichimoku Study - Thinning Kumo 2 - Week 3 of March 2015.

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

Bears take the index down below the Tenkan Sen, following last couple of red Dojis #W2.
Tenkan Sen and Kijun Sen, gap steady #W2.
Senoku Span A & B, gap narrow and steady #W3.

Wrap: Index slips below the Tenkan Sen but Bulls manage to close above it #W2.

Looking Forward into this Week:

Bears eye the Thinning Kumo #W2 (Study Links herehere or elsewhere) for an opportunity to break into the Kumo.
Bearish Cross of Tenkan Sen & Kijun Sen, at current range, next on Bear Agenda #W2.
Chikou Span at current altitude, can meet up with the price line in a few weeks #W1.

Wrap: Bulls look to stay above the Tenkan Sen and make new ATHs, Bears eye the Kumo #W2.