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Tim Mullooly on Point and Figure Relative Strength Charts on a Sell Signal in X's

Relative Strength Chart Configurations: Sell Signal in X’s

August 24, 2015 by Brendan Mullooly, CFP®

There’s a big difference between a point and figure relative strength chart on a buy signal and one on a sell signal. According to a recent white paper written by John Lewis, CMT of Dorsey Wright Money Management:

“Stocks on relative strength sell signals underperformed the market by a wide margin. Whether they were in a column of X’s or O’s, they performed worse with more volatility than either of the two benchmarks.”

Being on a relative strength sell signal is a big deal. It indicates long term underperformance by the security. Being in a column of X’s shows that the security has been outperforming its benchmark in the near term. However, until that security has reversed its point and figure relative strength chart to a buy signal, the long term trend is still one of underperformance.

Source:

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

http://systematicrelativestrength.com/2014/09/02/point-figure-rs-signal-implementation/

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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
Wall Township, NJ 07719

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