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, September 27, 2011
Dow update: low pole down, back at bearish resistance line
There is an active target of 9,600 in place but i'd be looking for the current column of X's to reverse imminently. If it did reverse here, the current column of X's would give an (inactive) target to the upside of 12,700 - we'd then need to see a move up through 11,400 to activate it.