Figure 12-8 shows the March 2007 mini-sized Dow contract on a
15-minute chart. Notice the standout on the histogram below this chart.
When I see an unusually high spike relative to the other time cycles on the
histogram, I really want to pay attention to the market at that time. In this
example, an important high was made within one bar of the standout on
this 15-minute chart. (If you were trading the countertrend rally from the
2/23/07 low, this would have given you the proper warning that the rally
might soon terminate!)