MarWk3 - As we approach towards the end of the first quarter, this is what it looks like at the end of market day on Wednesday 13 March 2013. From the looks of the ichimoku indicator, the Tenkan Sen has lifted from the Kijun Sen, which is a good thing. This is a bullish movement. Price is also safely above the two indicators unlike before (K) where price crossed both indicators at the same time suggesting that there could be a transition.
That transition did not happen of course. In fact, it went on like that for a couple more days until only recently when the two moving averages decided that it was time to separate. Much to the applause of the crowd? Who knows. There are some that are fairly confident that we might see the end of the rally, while others are hopeful that we will be able to see new highs. It's a gamble to say the least.
To be fair, from the current state as reflected by the indicator above, it looks bullish. There looks to be more upside to wherever it is that we are heading towards. Will we see a new high? Looks very likely unless some bad news is to rock the stock market, I think we might see an all time high from 2007 before the great crash. The gradual upward climb of the cloud gives me hope personally. So I am definitely rooting for a higher high. :)
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