Algiz or Elhaz (Proto-Germanic): elk, protection; Algis or Alh (Gothic): swan(?); Eolh (Old English): elk; I(h)war (Old Norse, in runic inscriptions only) yew, yew bow
Phonetic value: a final grammatical z, which became the final r of Old Norse.
Esoteric interpretation of name: protective force, valkyrjur.
Ideographic interpretation: the horns of the elk, the branches (and roots) of the tree, a swan in flight, or a splayed hand.
Symbolically, this is perhaps the most historically complex of all the runes, although a unified ideological complex does arise once its secrets are uncovered.
The word Algiz means "protection," and its shape is probably derived from the Proto-Germanic symbol of defense and protection: the splayed hand, a sign often found carved into spears for protection and victory. The idea of the valkyrjur has also been connected to this rune through its interpretation of the name as "swan." The valkyrjur are protective, life-giving beings who act as protectors, givers of power and the way that Odin communicates with his select heroes.
The word elhaz, another name for this rune, means elk and refers to the four cosmic red stags who constantly chew on the needles of the world-tree. When upside-down the rune is called i(h)war, which occurs only in runic inscriptions, and means "yew tree" or "yew bow."
The Gothic word Algis or alms means sanctuary and is also associated with this rune. An Alh is a protected grove or enclave dedicated to the gods. It also contains the aggressive, warlike, protective aspect of the divine twins, Alcis, beings who are depicted as being either red stags or horses.
Algiz is the power of human life and ones soul striving to reach the world of the Sir. It is the rune humanity's connection to the gods, the invisible force that draws man's consciousness to the realm of the Divine. Algiz is the Bifröst, the shimmering tri-colored, "Rainbow Bridge" of Norse mythology. The bridge connects Asgard, Midgard, and Hel and represents another way for the consciousness to traverse the worlds. It is the curved path of the roots and branches as opposed to the straight path of the trunk (Sowelu), a symbol of the hamingja's magickal power. Algiz is the force used by Heimdallr as guardian of Asgardhr. It is also a rune of consciousness and awareness (a hugrún).
Be thoughtful about your health and do not add to the burdens others are carrying. Look carefully at the associations you form at this time. If you see fit to become involved with people who are using you, remain conscious of that fact and take responsibility for your own position; then you can only benefit. And yet, regardless of whether your enterprise prospers or suffers, do not be overly concerned. You may not win, but you will never lose, for you can always learn from what takes place.