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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (56871)2/23/2002 5:34:44 PM
From: Bull RidaH  Read Replies (2) of 94695
 
Thanks GZ... Very helpful. I guess from a bearish slant, you could say the Dow just put in the first 2 days of a BEARISH 3 day wiggle of sorts (of course it wasn't the high of the move off the 1/30 lows either).

Do wiggles HAVE to be 3,5, or 7... or could the pattern complete on day 4 or 6 and be just as effective? And what would you say is the failure rate for the trend reversal being established once the signal is confirmed in each of the variations (3,5,& 7)? Finally, how long does the new trend tend to persist before being vulnerable to a sustainable reversal itself?

Thank you professor, -g-

David
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