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.

Thursday, November 25, 2010

FTSE 100 - looking double-toppish

There will be no 3 box reversal to the upside today because the FTSE looks set to close about 50 or so points higher (currently 5,705). Stockcharts target to the downside is not active because its based on the current column of 0's from the recent high. A continuation of this straight down would make for a nice double-top pattern but is in no way a given.

Happy Thankgiving from ''Ellan Vannin''!!
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