Whirlpool and Kenmore Knit settings
I know you have a Maytag, but I'd like to add about the cases with Whirlpool and Kenmore's Knit cycle settings.
Whirlpool from 1973-78 had a separate KNIT cycle from GENTLE, which provided a single cool-down, as opposed to double cool-down in PERMANENT PRESS or lack thereof in GENTLE.
As with Kenmore, that cycle name first appeared on them in 1971. On the TOL 3-speed Lady Kenmore push-button settings, the labeling of KNITTED FABRICS (w slow agitation and soak) replaced DELICATE FABRICS-LINGERIE, and DELICATES-WASHABLE WOOLENS (EXTRA slow agitation and soak) replaced WASHABLE WOOLENS-FRAGILES. Other than that, there wasn't much difference (if any) in both of those phases, even more so for 2-speed push-buttons. Also, for rotary timer washers from 1971-76, the cycle was named KNIT OR DELICATE, and when they started with the black-panel consoles from 1976, they were labeled as KNIT for 8 minutes, and DELICATE for 6 minutes or less.