friday's trading, page-111

It's not the amount of time that elapses between lows that matters to me with a HDB, by the way, but more the distance between prices of the lows.

In early June, on the S&P cash, there were no two lows that were close enough to consider valid for me. The respective lows before the June high were all over a point apart.

In late December 08, on the S&P cash, the two lows were .02 of a point and 7 days (3 trading days) apart. That proved valid.

In the last weeks, the lows were .09 of a point and 5 days (2 trading days) apart.

That was my point.

If it were correct that the more time that elapses between lows, the more likely to be a true HDB, then the amount of time that elapsed between lows in '87 on your SPI example Robb would suggests that that HDB was likely to be valid, but what followed was a disaster.

Anyway, it’s probably a combination of both time and price that works best for defining a HDB. The difficulty is that there is now set formula that applies in all cases.

And you won't find the answer on some internet site either Mongo, as there is no set answer that applies in all cases.

Cheers.