SPDR S&P 500 (SPY)

[leftyg]

Gleno, I ignore any period less than a day. Determining the trend change is the easiest part. It is a 2 box reversal, which means that the down trend price has retraced the last red box, and gone upward to form a new white box. I don't look at it as "giving back" anything..since if I hadn't been following the trend, I wouldn't have anything to give back.

I use a box size setting that make a reversal on about a 4% price move. Less than that will increase whipswaws..but it is up to everyone to decide for themselves.