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Brendan Mullooly on Point and Figure Relative Strength Chart Configurations

Relative Strength Chart Configurations: Buy Signal In X’s

August 10, 2015 by Brendan Mullooly, CFP®

As Tim shared on a previous video, point and figure relative strength charts can be configured in one of four ways. One of these configurations involves being on a buy signal and in a column of X’s.

What Does This Point and Figure Relative Strength Configuration Tell Us?

When a point and figure relative strength chart is in a column of X’s, it signifies near term outperformance versus its benchmark. When a point and figure relative strength chart is in on a buy signal, it indicates longer term outperformance versus its benchmark.

When a point and figure relative strength chart is on a buy signal and in a column of X’s, it is performing better than its benchmark on both a near term and longer term basis. This is the optimal relative strength chart configuration to seek for potential investments.

To quote a whitepaper on this subject written by our friends at Dorsey Wright Money Management:

“No matter how you look at the data, over long periods of time the stocks on point and figure relative strength buy signals and in a column of X’s are really where you need to focus.”

Source:

http://dorseywrightmm.com/sites/default/files/White%20Paper%20-%20PnF%20RS%20Signals.pdf

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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.

1971 State Route 34, Suite 102
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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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