A great question came across my desk recently:
"...as a swing trader (1 - 10 days) I'm looking to buy shares when the market is going up in
short bursts and then reverse and go short during the down moves. I would be interested in
how to determine when to get in or out of the market..."
The Chartist ASX and US Power Setups® both contain a Discretionary Portfolio that does exactly that; specifically attempts to ride short term price movements both up and down. The key with the short term movements is to position oneself in the direction of the prevailing market trend, so if you're trading Australian stocks you may wish to align yourself with the trend of the All Ordinaries Index, or, if you're trading US stocks you should align yourself with the trend of the S&P 500. Don't get too caught up in the intricacies of which index to use, it's more important to align yourself quickly.