A nice post from Danerics by Cotton211

 

 

  

 Cotton211 • 

 

It is important to study the
different sections or moves that a stock makes between the first low level and
the first, second, third, fourth, or fifth tops of a move. After a stock has had
several moves up and reacted, when it is near the end of the
move.
The gains over the last previous top will be less and the run
from the last bottom to the last top will be less than in the early stages of
the movement, an indication that the move has run out and that a culmination is
near. In a declining market, apply the same rule. When the declines or sections
of a move become shorter, it indicates that the selling pressure is
waning. WD GANN