Welcome to EV's point and figures. This blog is dedicated to the use of point and figure charts in technical analysis.

Although P&F first appeared in charts in the 1930's, it is an often overlooked techique for analysing stocks and charts. A poor relation compared to line and bar charts and their range of momentum indicators. Yet few charts provide a clearer picture of the daily battle between bulls and bears for market control.

Like most methods, it should not be used in isolation. It should form part of an analysts 'tool box' and be used with other techniques to help form an overall view.

The charts that appear on this blog and any accompanying comments are purely for information purposes only - my own personal take on where the prices may be heading. They do not constitute investment advice.

Wednesday, July 14, 2010

FTSE 100 update

Like many indices the FTSE 100 was probably due a bounce following the recent selling pressure and the rally has been impressive. See on this 50x3 chart below that the market has filled the 5,250 box, the place where previous resistance was met. The downside price objective of 3,850 is still active, with no obvious upside targets just yet. The current up column of x's will create an unactivated price target once it reverses, so i'll keep an eye on that one.

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