The Traderszone Network

Published in TZ Latest News 22 July, 2016 by The TZ Newswire Staff

Point and Figure Pie in the Sky?

During the bear market that ended in 2009, the broad market indexes traced out a large base. Using the horizontal Point and Figure counting methodology, a Wyckoffian could generate a very large price objective. The countline was at the 8,100 level on the Dow Jones Industrial Average, with a low of 6,500. Once the Accumulation zone was completed the price projection was a range of 17,600 to 19,200. At the time the wheels appeared to be coming off all of the financial markets.

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