NEWBIES BOARD

[GOSSSAMER]

Can someone explain "10-period low" here?

This is from a book I'm reading and I want to be clear as to what the author means by 10-period low?

Since 1993, had you bought every 10-period low and exited when the market crossed above its 10-period moving average, you would have made 830 S&P points (equity traders would use the SPDRs (SPY). That’s right, the S&Ps have risen a bit over 600 points during that period of time and you would have made over 800 points. Plus, 75.8% of your trades would have been profitable. Nice…very nice.