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Casey Mullooly on Relative Strength Chart Configurations

Relative Strength Chart Configurations: Buy Signal in O’s

August 17, 2015 by Brendan Mullooly, CFP®

As we discussed on a previous video, the optimal configuration for point and figure relative strength charts is to be on a buy signal and in a column of X’s. In this video, Casey continues the discussion on point and figure relative strength chart configurations.

What does it mean when a relative strength chart is on a buy signal and in a column of O’s?

When a point and figure relative strength chart is on a buy signal, it indicates outperformance over the longer term. When a point and figure relative strength chart is in a column of O’s, it indicates underperformance in the more recent past. So while the longer term performance trend may still be intact, the tides could be changing.

We believe it’s very important to stay abreast of column changes on relative strength charts. The shorter term often spills over into the longer term. Column changes are what lead to signal changes.

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Filed Under: Videos, Chart School, Technical Analysis Tagged With: point and figure, relative strength

About Brendan Mullooly, CFP®

Brendan Mullooly is a CERTIFIED FINANCIAL PLANNER™professional with Mullooly Asset Management, Inc.

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