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, June 30, 2011

FTSE 100 update

The recent price action and post Greece vote has taken the FTSE back in to the 'range' that is has occupied for most of 2011. After breaking that strong support I had envisaged a more prolonged period below the range but all that aside, we can see the index found support twice at 5,650 and that the first target given off the bottom (the 3 column of X's) was activated and has been reached. This pattern is currently pointing higher with an active target of 6,025.....

...which would get the index back toward the top upward sloping line on this candle chart.

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