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.

Tuesday, October 12, 2010

NYSE High/lows

I made reference yesterday to Joe Granville, who in his market letter had made reference to the performance of the Dow in the context of the broader market, referring to the '674 new highs in April'. I think he was referring to the NYSE.

The chart above shows the number of new stocks reaching a new 52 week high relative to the number falling to a new 52 week low.

The P&F chart above shows the NYSE number of stocks making a new 52 week high. As Granville suggests, this peaked back in April.

And this is the same data (ie number of new 52 week highs) but in normal chart form, log scale by the look of things.

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