.....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 - 12 October, 2012 |
Learning from the Past Week: (click here for the post)
Chikou Span (pink line) - dives towards the price line.
The Oscillator ticks down, -ve divergence is persistent (b).
Support for index (a) was exactly on the Tenkan Sen (a) as studied last week.
Looking Forward into the next Week:
The Chikou Span heading for the Price line needs to be watched - bearish cross possible in a couple of weeks, if it falls at current rate.
After the consolidation of the last 4 candles Bulls hold the Index on the Tenkan Sen, for the week (a) - take off from here is critical, as cross of this line, is seen as an early indicator of trend change.
