Tom: I think the W%R is somewhat more predictive than confirmatory. As I've read; like Stochastics, it indicates oversold (buy), or overbought (sell) conditions based on price momentum and trend. At the TA A_Z site they say:
"An interesting phenomena of the %R indicator is its uncanny ability to anticipate a reversal in the underlying security's price. The indicator almost always forms a peak and turns down a few days before the security's price peaks and turns down. Likewise, %R usually creates a trough and turns up a few days before the security's price turns up."
I just noticed that they also have ZIGZAG described there. I'll have to read on.
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