Replies to post #6402 on CHARTS_CCI_SYSTEM

[GLENO34]

Seems like every time we sell down 2 or 3 points the dippers jump in and run it right back up..Whipsaw city again today..

[northam43]

Updated SPX 60 min chart:

The 60 min opened this hour in an Unconfirmed Phase 1, if confirmed at the end of the hour, the projected low will be around 1663.1, the Daily UTL is at 1663.65, so if a 60 min Phase 1 is confirmed and if it gets to it's projected low by the close today, then it would be possible that the Daily could open in an Unconfirmed Phase 1 tomorrow morning.

I doubt that will happen. If the 60 min confirms a Phase 1 this hour, and closes in Phase 1, it will close in it's 4th trading hour, the average 60 min Phase 1 puts in a low during the 4.9 trading hour and the average 60 min Phase 1 lasts 6.6 trading hours, so then tomorrow unless the 60 min Phase 1 extended, it would likely go back into Phase 2, and the Daily would then remain in a Phase 2 for that day. But the Daily would be in an extended Phase 2, and a Daily Phase 1 will likely soon follow.