.....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) marked on chart as per notes below
The Flat Kumo: Bearish Signal (Ko)
The Tenkan Sen/Kijun Sen Cross: Strong Bullish Signal (T)
Tenkan Sen Cross: Weak Bearish Signal (Te)The Chikou Span Cross: Weak Bearish Signal (cC)
The Kijun sen cross: Weak Bearish Signal (K)
The Chikou Span Cross: Strong Bullish Signal (cC)
DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud
|DJI 30 - End of Week Chart - 16 November, 2012|
Learning from the Past Week: (click here for the post)
Chikou Span #1, makes a Bullish Cross of the price line - moving above it - as this cross happens when the price is above the Kumo - its a Strong Bullish Signal.
Bulls manage to stay above the Kumo #2.
The Oscillator ticks down #3 Negative divergence is persistent.
Looking Forward into the next Week:
The Chikou Span Cross #1 is a setback for the Bears.
Bulls come back from inside the Kumo to close just above it #2.
Together the above make this a comeback story for the Bulls if they keep above the Kumo.
If a bearish cross of the Kijun Sen and Tenkan Sen #2, happens in the next few weeks, Bears would be back.