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, December 18, 2012

FTSE 250 Index - new intraday high

Not the clearest of charts it must be said (100x3 h/l). The FTSE mid 250 index posted a new all time  high today, taking out the intra day 12,282.2 on 22nd May 2007 - hooray! Currently 12,290 as I write.

The 100x3 chart shows that the Index has on two previous occasions reached this heady level (ie filled the 12,200 box - in May 2007 and more recently July 2011.  Anyone who 'bought the index' in July last year may be looking for an exit, so clearly an area of resistance bulls will need to overcome.

No arguing though its an impressive recovery from the 2009 lows.

Friday, December 14, 2012


Those earlier targets off the top were met, but the shares found support at the 510 level. There is a target to the downside of 380 that has been activated (as resolved by that traingle which eventually broke to the downside -the red coloured 'o's) but it would be more persuasive if Apple were to take out this 510 box, the level where it previously found support