ALGIZ, Elder Futhark Rune pendant. Leather cord included. Hancarved in Bohemia. Literal Meanings of Algiz (or Elhaz) - "Elk", esoteric meaning - protection, higher self. Algiz is a protective teaching force that promotes independence and autonomy as well as faith. Courage in the face of fear is central, not the absence of fear, because fear may or may not be a warning to us that protection and defensiveness is necessary. Algiz supplies the insight necessary to make such judgment.