The following is my own personal guide for reviewing different terminologies when reviewing the global market watch by Martin Armstrong. This is for research purposes and should not be used in real trading what-so-ever.

Image & terminology by Armstrong Economics

Different Scenarios or Event Descriptions:

Knee Jerk High or Low – One-time-unit event.

Reaction High or Low – Has not penetrated previous event and is at least three-time-unit event

Temp High or Low – Normally brief trend greater than three-time-units.

Spike High or Low – Quick thrust that may be three actual time units (within four or five), followed by a quick reversal.

As per Martin Armstrong,

Here is the Global Market Watch on gold. You can see it correctly forecast two Knee Jerk lows, which proved to be correct. It is the GMW which eliminates personal opinion and is based solely upon pattern recognition. This is neither technical nor cyclical based. This is something altogether unique and represents true Machine Learning Intelligence.

View his post here