MDA - Market Direction Analysis

[MechanicalMethod]

Here's an interesting site. http://www.fibonaccitrader.com/ Scroll to the bottom on the left. Under Downloads click on FT Journal issues and download Issue 1. Skip to page 4, 5, and 6 where there's cool charts and definitions. His swing extremes look a lot like the pivot points on your chart.

I don't agree with everything Krausz says but it's a good start toward a consistent method of determining whether a trend has legs.