Krueger seems to think that the namesake of his chart achieved it when there was a balance of a winnowing gap of equality and more easily enabled social mobility.
However, I have found that combining this scan with the monthly analysis of the chart, relative performance, and on-balance volume can be quite effective in identifying good buying opportunities.
On the bottom of the chart, I have also included the on-balance volume (OBV), which does a very good job of indentifying the lower volume that should coincide with the second low in a double-bottom formation.