.....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 Kumo Breakout: Strong Bullish Signal (B)
The Flat Kumo: Bearish Signal (Ko)
The Chikou Span Cross: Strong Bullish Signal (cC)
Tenkan Sen Cross: Strong Bullish Signal (Te) The Tenkan Sen/Kijun Sen Cross: Weak Bearish Signal (T)
New:
The Kijun sen cross: Strong Bullish Signal (K)
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| Dow 30 - End of Week Chart (EOW) - Analyzing 12 months Data - as on 04 Jan '13 |
Learning from the Past Week: (click here for the post)
Bulls did hold the Critical Tenkan Sen last Week #2.
We also have a range break to above the Kijun Sen #2.
The Chikou Span neatly deflects away from the Price #1.
The Senkou Spans slightly diverge away from each other #3.
The Oscillator ticks up #4.
The Bulls come back from the critical Tenkan Sen with a bounce, taking the index close to the Highs of last year.
Looking Forward into the next Week:
A Senkou Span Cross #3 - if it happens from this position - is still bad news for the Bulls.
Bulls now would look at a Bullish Tenkan Sen / Kijun Sen Cross #2.
Bears need the index back below the cluster of supports MVWAP 34, Kijun Sen and Tenkan Sen #2.
Holding above the Kijun Sen, Bulls should look at taking out last year's high.
