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, August 10, 2012

RUT - more upside to come

This 5x3 closing PF of the RUT 2000 suggests a bit more upside. The longer term (blue) bullish support line has not been broken. The target of 875 given from the recent low would challenge the May 11 high. We also have a more recent double top buy signal with a target of 845. This 845 figure is also corroborated on the same 5x3 chart but one that uses the 'high/low' technique.

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