Replies to post #19422 on CHARTS_CCI_SYSTEM

[rimshot]

revised SPY 60-minute:

SPY 263.67 near-term bull/bear divider
has been added as the red horizontal

* my forecast for today's close =
262.84, with only 35% to 70% odds as
being even close to accurate ...
both bull trap and bear trap scenarios
are in play since the Fed FOMC decision
a few days ago, and nearly every professional
investment manager that I read and that offers public transparency
is looking for a bottom
to set up in the coming days, which could
easily be proven NOT to be the actual outcome
(W-bottom info.
is posted below the chart)

** I personally see many internal metrics which
indicate we can expect less than 50% odds the
pattern of V-bottoms which has been in play for
the period of 2012 to January 2018 will be
repeated in the March to May 2018 period...these
internal metrics need to eventually continue
to worsen in order that high odds exist for ruling out a V-bottom taking place this time around



W-bottom explained at stockcharts.com -

A “W-Bottom” forms in a downtrend and involves two reaction lows. In particular, Bollinger looks for W-Bottoms where
the second low is lower than the first but holds above the lower band.

http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:bollinger_bands

I suggest close future vigilance on both the lower daily and lower
weekly Bollinger Band chart location vs. the future price action

SPX daily with 21,2 BB -

* focus on the daily price closes vs. the lower BB's actual location , for W-bottom vigilance