Point & Go Figure
Below are some charts that caught my eye, as well as some that were requested by Minyans. If you would like a chart reviewed, let me know here.
I have added text and illustrations to the charts where necessary.
All charts courtesy Dorsey, Wright & Associates.
% of NYSE stocks above conventional point & figure positive trendline
This indicator simply plots the percent of NYSE stocks that are trading above the "Conventional" point & figure trendline (the line that is drawn by convention at a 45 degree angle from the chart low after the first new buy signal following a sell signal).
It reversed up and gave a new "buy signal" in April 2003. Since peaking in January 2004, it has been making lower highs, a sign that fewer stocks are recovering from trendline violations on market downmoves.
Cal Dive International, Inc. (CDIS)
FedEx Corporation (FDX)
Paxar Corp (PXR)
Research in Motion Limited (RIMM)
Russell 2000 Index (RUT)
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