.....Regulars can skip below and go straight to the chart......
Quick Reference :
Chikou Span - pink line,
Kijun Sen - blue line,
Senkou Span A - black line,
Senkou Span B - grey line,
Kumo - grey shaded area,
Tenkan Sen - red line.
Previous Signals seen on DJI 30 - Week Chart (EOW) as marked on chart below:
Kumo Breakout: Bullish Signal (B)
The Flat Kumo: Bearish Signal (Ko)
The Kijun sen cross: Strong Bullish Signal (K)
Tenkan Sen Cross: Strong Bullish Signal (Te)
The Tenkan Sen/Kijun Sen Cross: Strong Bullish Signal (T)
DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
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| DJI 30 - End of Week Chart - 31 August, 2012 |
Learning from the Past Week: (click here for the post)
The strong resistance we saw in the previous high - foiled the Bulls last week too.
The Oscillator ticks down.
Chikou Span (A) heads closer, for a possible bearish cross of the Price line.
Support last week, was close to the Tenkan Sen (B).
Looking Forward into the next Week:
The negative divergence, developing on the Oscillator - remains the key concern, for the Bulls.
Avoiding a Bearish Chikou Span cross - is critical for Bulls going forward.
Staying above the Tenkan Sen (B) - Bulls would try for the last high again.
Bears would see current momentum, taking them to the MVWAP 34.
One watches the Chikou Span (A), for direction early next week.
