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.

Friday, July 15, 2011

TNA & RUT: active targets to downside

The 83 support level on TNA did not hold yesterday, the move below it gave a double bottom sell signal and has activated that 65 target price.....



.. And we also have a double bottom sell signal on the Russell 2000 (5x3 HL) target 770. Lets see if these hold.

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