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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: YxY who wrote (1620)	5/17/2000 10:27:00 AM
From: Chip McVickar	Read Replies (2) \| Respond to of 33421

Y, I had the feeling that a wiggle should come after some decline, may I'm wrong here, what do you suggest ? On the 26 day requirement....as I understand it, even if you had a trend down of 5 days and then the required spike down which formed a new low "for the move," the charts could produce a viable wiggle pattern. Sometimes wiggles will form within an upward trend....not producing a "low for the move,"....these are not true wiggles. Your scan correctly targets just wiggles off lows. It's not that your 26 low is wrong.... some charts work best using 14 day cycle lows and GZ likes the 40 day cycle for the DJIA....so I don't know what would happen by using 5 days....Try it..? GZ has never suggested Volume is a requirement..! But larger cap stocks in both the NYSE and NASDAQ may have more sustained price moves then small cap under $12.00..? From what I understand, these are rare paterns that 80% of the time produce a measurable price move. The duration of the move and the price target do not seem to be known. They are active until broken or another chart pattern suggests a change. If these patterns produced a consistant +10 points 80% of the time on any chart.....you'd be a winner if you knew how to sell. BTW GE has an imperfect 3 day wiggle formed off the last spike. Chip