I do like referring to a weekly chart for a possible Magic Box; however, it largely depends on the timeline that I'm desiring to set for the stock. Perhaps I'm wrong, but I don't see much value in disecting the weekly chart for a Magic Box if I'm not looking to hold the stock during the dips that a weekly chart may not pick up. Also, the weekly chart often lags too much. Determining a sell by reading a weekly chart may happen way after your stop-loss has been set. Moreover, determining an entry point by reading a weekly chart may happen way too long after the initial move has taken place. Setting the appropriate Aroon and Williams is another matter altogether.
That being said, the weekly chart is often a last resort chart for me. Actually, that's not the right way of putting it. The weekly chart generally tips me in one direction or another if I'm sitting on the fence. In and of itself, the weekly chart is not a determiner. What really piques my interest when looking at a weekly chart is not so much the Aroon and the Williams but the candle setup instead. If I'm seeing the candle nearing the bottom Bollinger Band with a white candle forming, then I regard the chart as more impactful.
When I'm considering a stock, I consider/look for:
1. A Magic Box
2. Weekly full stoch confirmation
3. ADX crossover if not the +DI above 20/30
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