Intraday Bounce Now Just About Assured

This could just be in to the close, but considering the time left and the 3C concept of picking up where the charts left off at the close, I'd expect some early bounce tomorrow as well.

There's now enough of an intraday base for a bounce and the TICK has moved enough to tell us this is high probability along with the 3C charts. However nothing has changed from the earlier post first smelling a bounce in which 1 and 5 min charts were compared, the 5 min charts and beyond are still confirming all of the damage and in a way act as a lid on a bounce and thus make it useful rather than worrisome.

The 3C charts are easy to see it, I want to show you with price and TICK action alone as there is a reversal process involved and it is proportionate to the preceding trend. You can literally spot these things just with price action alone.

 No moving averages needed, not even trendlines. The 1 min SPY now has the lateral movement that is large enough or proportional enough to support an intraday bounce so I'd expect it.

For further confirmation without any special tools just from intraday breadth alone...

The NYSE TICK chart broke a nice, clean, clear downtrend channel, this is early warning and often useful

Or we could just use the 3C chart...

IWM 2 min.

I purposefully tried to steer away from using the 3C charts as you can see the changes in character in price action and changes in character lead to changes in trend. I think it's worth the time to get use to looking at price action because this intraday chart shows the same characteristics that a weekly chart would show, just different timeframes and proportionality.