Depending on my time constraints when I’m running my analysis
on any market, I might run a time histogram rather than running the
actual time cycles, which is generally more time consuming. In this next
example of time and price coming together, I’ve run it both ways. In the
first MO chart, Figure 13-3, you can see a standout bar on the time histogram,
which was run from a prior low made on 3/3/06. This histogram
was projecting a possible high, since we ran it from the last low as the market
was rallying. You can see how the standout bar coincided beautifully
with a two-step pattern and price cluster at the 74.47–74.62 area. The actual
high was made at 74.53. A healthy decline followed this well-defined time
and price coincidence, or, as I like to call it, synchronicity. A quick definition
of synchronicity is “meaningful coincidence.”