.....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 Kijun sen cross: Strong Bullish Signal (K)
The Tenkan Sen/Kijun Sen Cross: Strong Bullish Signal (T)
|Dow 30 - End of Week Chart (EOW) - Analyzing 12 months Data - as on 18 Jan '13|
Learning from the Past Week: (click here for the post)
Bullish 'Kijun Sen/Tenkan Sen' Cross happens #1..
The Senkou Spans A & B diverge away from each other - some more.
The Oscillator ticks up - divergence with Price persists.
Bulls reach previous / last major Highs.
Looking Forward into the next Week:
A Senkou Span Cross - if it happens from this position - is still bad news for the Bulls.
Bears need the index back below the cluster of supports MVWAP 34, Kijun Sen and Tenkan Sen #1.
A serious Bearish Divergence is developing on the Oscillator #2.
As Bulls rule the Highs, bears pin hopes on recross of the fast rising Tenkan Sen (red line) and divergence #2.