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Strategies & Market Trends : Humble1 and Swing Trading Friends
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From: bob_o7/17/2025 6:45:04 AM
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humble1

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The hourly S&P chart pattern so far has behaved in a classic manner following the completion of an ending diagonal triangle formation. It came down yesterday to test the low point of the EDT formation on July 7 and bounced back up to back-kiss the lower line of the EDT. Yesterday’s low also tested the lower channel line (red channel lines in chart). So this is sort of a moment of truth. The bearish case wants to see a turn down now and a break below yesterday’s low to help confirm a change in trend. (I’m carrying multiple wave counts for now until we get a move that can start to eliminate some of them.)

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