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Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index keeps above support (Tenkan Sen - blue line) and makes an Engulfing pattern.
Senkou Span A and B, flatten but stay crossed bullishly (right extreme).
Senkou Span A and B, flatten but stay crossed bullishly (right extreme).
Chikou Spandeflects off the Price line (left).
Tenkan Sen and Kijun Sen flatten and remain crossed bullishly (center).
Wrap:
Index makes an Engulfing pattern above support, Throw Back in progress...
Looking Forward into this Week:
All Signals favor Bulls, Bulls push for the Chikou Span deflection at the Price line, to continue.
Keeping above the 61.8% Fibonacci (Of this year's Hi and Lo) and reaching $62 is the Bull plan.
Throw back to the Kumo, in progress - That's the Bear Hope.
Throw back to the Kumo, in progress - That's the Bear Hope.
Wrap:
Bears hope for a 'Throwback', with help from the shooting star & resistance at the previous high.
Bulls seek to keep the advantage with the Engulfing pattern. and support at the blue Tenkan Sen, for move towards $62.
